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The Shop is a company limited under
the Provident and Friendly Societies legislation which is a framework
appropriate for clubs and not for profit organisations.
A standard set of rules has been devised
by the Village Retail Services Association (ViRSA) for village shops using
this corporate structure and these have been adopted by the Management
Committee with one or two slight amendments.
Any member of the village or indeed people
outside it can subscribe for a £5 share but can have only one share maximum!
Should
you wish to be a shareholder please contact
the treasurer on this link.
Notes on shareholders’ rights
These are taken from the Rules of The
Titchmarsh Village Shop Association Limited signed by the Management Committee
16 August 2007 and approved by the Financial Services Authority 5 September
2007. A
copy is available on application to any member of the Management Committee.
1.
Members can only hold one share in the Association (Rule 6)
2.
Shares are not transferrable (Rule 6)
3.
Shares carry no right to dividend or interest (Rule 6)
4.
Liability limited to £5 – i.e. the amount subscribed (Rule 7)
5.
Membership ends on resignation, failure to pay subscription within 3
months,
expulsion, death, or liquidation (if a company) (Rule 10)
6.
Right to vote at any general meeting (Rule 19)
7.
Right with 10% of the members (ie 11 at the moment) to call a general
meeting
(Rule 16)
8.Obligation
to pay an annual subscription – fixed at last AGM at £1 due 1st
February
2008.
The
numbers of shareholders in the association are tracked on the
shareholder graph page | 
