Page 15 - NAS Rules 2016

8.16.4 The President, Chairperson and Vice-Chairperson shall be ex-of cio non- voting members of all sub-committees of the Society.
8.17 All members of all committees and all persons attending such committees shall be subject to the Code of Conduct as set out in Section E of the Standards and Procedures.
8.18 Deputy regional representative:
8.18.1 When a regional representative is unable to attend a Management Committee meeting, a deputy named by his/her Regional Body is entitled to attend the meeting with all voting rights and privileges of the regional representative.
8.18.2 The deputy may only attend three meetings in a period of twelve months.
8.18.3 However, if the regional representative is unable or unwilling to continue to attend then he/she must give notice in Writing to this effect to the Registered Of ce. The deputy can be appointed to attend Management Committee meetings to represent the Regional Body until the following Annual General Meeting at which a new regional representative will be elected for that region for the appropriate term.
9. FINANCE: APPLICATION OF SURPLUS
9.1 All surplus funds arising from the general business of the Society shall be applied in such proportions and in such manner as may be decided by the Society at the annual general meeting as follows:
9.1.1 To a general reserve for the continuation and development of the Society;
9.1.2 To making payment for social or community purposes within the allotment
and leisure gardening community served by the Society.
9.2 The Management Committee may invest funds of the Society that are not immediately required for its business in an investment deposit fund or in property assets.
9.2.1 The exact terms and conditions for any investment shall be set out in a formal statement and subject to the conditions as set down in 6.2.11.
9.3 Any money borrowed from its Members and others in order to further its objects under 6.2.12 shall not exceed £2,000,000 as the amount outstanding at any one time.
9.3.1 Under 6.2.9 the Society shall have the power to mortgage or charge any of its property including the assets and undertakings of the Society, present and future, and to issue loan stock, debentures and other securities for money borrowed or for the performance of any contracts of the Society or its customers or persons having dealings with the Society.
9.3.2 The rate of interest on money borrowed, except on money borrowed by way of bank loan or overdraft or from a nance house or on mortgage from a building society or local authority, shall not exceed 5% per annum or 2% above the Bank of England base rate at the commencement of the loan, whichever is the greater.
9.3.3 The Society may receive from any person donations or loans free of interest in order to further its objects but shall not receive money on deposit.
RULES 2016
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