Section 13d reporting requirements need updating

Posted by / 15-Jan-2018 04:29

Section 13d reporting requirements need updating

This means the society continues to exist as a legal entity (called “perpetual succession”) even though its membership may change.

It also means the society’s members are not personally responsible for debts and other obligations that the society takes on.

Or will you need something more formal, such as an unincorporated group with detailed written rules, or an incorporated society, or a trust?

This section: The rules of unincorporated groups will derive from an agreement between the members, or an implied agreement based on past practice, or both.

The society’s activities are limited by the Incorporated Societies Act and the rules the society adopts for itself.

Usually an incorporated society’s management committee and officers deal with the admini­stration, management and control of the society.

If you’re setting up a new community organisation, whether social, charitable, sporting, political or something else, you’ll need to consider which legal structure will be most appropriate for the group and its activities.

For example, will an informal unincorporated group be sufficient?

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To be able to register, your group must exist for some lawful purpose other than making a profit.

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