AIM OF THE PARTNERSHIP
To provide and manage good affordable homes for the people of Moray
and to prevent social exclusion.
Membership
Becoming a member only costs £1.00 and is open to anyone over
the age of eighteen, unless you are already a tenant. If you are a tenant,
you can apply for membership from the age of 16.
This entitles you to:-
• vote at the 'Annual General Meeting' and stand for election to
the Management Committee.
• allow you to contribute to ensuring that tenants’ views
are included in the decisions which the Committee makes.
Once your application has been approved by the Management of Committee,
you will receive a Share Certificate confirming your membership.
CODE OF GOVERNANCE
The Rules of the Partnership cover such matters as defining the name,
objects and registered office of the Partnership and matters to do with
membership, committee membership, borrowing powers, procedures of meeting,
and appointment of Auditors etc.
Objects
The objects clause is fairly widely drawn and allows the Partnership
to build, improve and manage properties for rent.
Profits
The Partnership may not trade for profit, neither may “profits”
(surpluses) be distributed directly or indirectly to members. The Annual
General Meeting may determine, if recommended by the Management Committee,
any particular application of the “profits” – but
such application must be within the objects and rules of the Partnership.
Membership
No member shall hold more than one share in the Partnership and membership
shall be effective from the time that the sum of £1.00 has been
received and the name of the applicant entered into the Register of
Members. Shares carry no right to interest, dividend or bonus and shall
not be held jointly.
Any member can end their membership of the Partnership by giving the
Secretary one month’s notice in writing. Membership may be cancelled
if you have failed to attend and submit apologies for five annual general
meetings.
Borrowing Powers
The borrowing limit is currently £200m.
General Meetings
The rules provide that there shall be a General Meeting of all members
(the Annual General Meeting) within six months of the end of each financial
year which will receive the accounts, elect committee members and appoint
an Auditor.
Management Committee
The Partnership shall have a Committee of Management which shall have
a minimum of 7 and a maximum (including co-optees) of 15 members.
