Members
The Members of the Trust, are akin to shareholders, and are the subscribers to it's memorandum of association. The liability of the members of the Academy Trust is limited, as with any company limited by guarantee, by the amount of the guarantee undertaken by the Member (this is set at £10 in the model Articles of Association).
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The functions of the members of the Academy Trust include:
- Overseeing the achievement of the objectives of the company
- Taking part in Annual and Extraordinary General Meetings
- Appointing some of the governors
- Signing off the company’s financial accounts and annual report
- Power to amend the Articles of the company and, ultimately, to remove the governors/directors
Overall, Members usually have much more limited involvement in the management of the company than the Trustees.
Meetings -The members meet three times a year,in September. January and June.