I was just about to say the exact same thing.
I'm a director of a non-profit, trustee of a registered charity and a
signatory to the bank account me a third group. In none of these
organisations is every board member a signatory to the bank account.
It's simply not a problem for WMUK to have directors under 18, they
just won't necessarily be able to be signatories...
On 9/12/08, Gordon Joly <gordon.joly(a)pobox.com> wrote:
At 13:17 +0000 11/9/08, joseph seddon wrote:
>>
Alison I have just spoken to my next door neighbours daughter
who works in a bank
and >she says that there are special exceptions.
Problem is triggering them. In most cases you need some kind of hold
over the bank such as having a large existing deposit you can threaten
to withdraw. For something like WMUK 2.0 saying no is the easy option
so they are going to do that unless you are a complete walk through in
terms of meeting requirements.
It strikes me that the first and most pressing objective of the board
should be to obtain charitable status, for which, as we have seen so
clearly, a bank account is necessary. Accepting directors aged under
18 (and therefore without credit ratings) seems likely to place
additional obstacles in the path towards charitable status.
I agree that having directors of 16 or 17 would be a "nice to have".
I don't think it's important enough to compromise the most important
aim of the project.
I would have to agree with Sam Korn. What i would suggest is this. Firstly
have people over 18 year olds, and that meet all requirements get the bank
account. Then after everything is dealt with, we can then look towards
having 16 and 17 year old directors in the future. I do feel that it
is in the best
interests of WMUK not to have 16/17 year old directors at this time. We
have
enough problems to deal with at this moment in time as an
unfortunate result of
the way UK banking works, we don't need to add to those difficulties. I
hope
you understand this :)
Seddon
Do all board directors have to be signatories to the bank account?
I thought that the standard "two from three" signatories was all that
was required...
Gordo
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