Essentially this would require the Board making a decision that it was
interested in looking into the idea and setting up a steering committee to
take the matter forward. This could be done with a limited amount of
officer time.
The board would have to consult the Wikimedia Foundation and the English Wikipedia community on this and would be ill-advised (particularly in light of recent events) to go ahead with this decision without their support. In particular, jimbo's recent signpost article [1] seems fairly opposed to this direction of travel.
If you're serious about taking this forward, I think you need to flesh out the proposals and see how they fit in with en-wp policies and statements of Foundation board members before it can be submitted to the WMUK board.
Why don't you set up a wiki page to gather ideas?
Regards,