Following a vote of the WHUISA members, we are converting to a Community Benefit Society - more commonly known as a Supporters’ Trust.
We submitted our registration to the Financial Conduct Authority based upon the Model Rules prepared by the Football Supporters Association. We received confirmation of the registration to the Mutuals Register in early October:
We are now going through various administrative processes that need to be completed before we can launch the Trust. This includes the setting up of a bank account and some compliance obligations concerning governance.
The Society’s objects are to benefit the community by:
· Being the democratic and representative voice of the supporters of the Club and strengthening the bonds between the Club and the communities which it serves.
· Achieving the greatest possible supporter and community influence in the running and ownership of the Club.
· Promoting responsible and constructive community engagement by present and future members of the communities served by the Club and encouraging the Club to do the same.
· Operating democratically, fairly, sustainably, transparently and with financial responsibility and encouraging the Club to do the same.
· Being a positive, inclusive and representative organisation, open and accessible to all supporters of the Club regardless of their age, income, ethnicity, gender, disability, sexuality or religious or moral belief. A Supporters’ Trust is a democratic, not-for-profit organisation of supporters, committed to strengthening the voice for supporters in the decision-making process at a club, and strengthening the links between the club and the community it serves.
A Supporters’ Trust is a democratic, not-for-profit organisation of supporters, committed to strengthening the voice for supporters in the decision-making process at a club, and strengthening the links between the club and the community it serves.
Supporters’ Trusts are constituted as Community Benefit Societies, a form of Co-operative that operate under a one-member one-vote principle and are governed by a strict set of rules.
CBS’ are registered with the Financial Conduct Authority and as such has a number of legislative requirements to fulfil such as holding an Annual General Meeting and submitting annual accounts as specified in the Co-operative and Community Benefit Societies Act 2014.
The members own all assets and liabilities collectively, and any profit made is either kept as reserves or reinvested to meet the societies objects.
The Trust Board are elected by members and any (over 16) members of the Trust have the opportunity to stand for election to the Trust board.