The Role Of Members

As a charitable company limited by guarantee, Concordia Members have a similar role to shareholders in a company limited by shares.  However, unlike shareholders, Concordia Members do not have any rights of ownership and do not profit in any way from  the Trust.

Members:

  • are the subscribers to the trust’s memorandum of association (where they are founding members);

  • may amend the articles of association subject to any restrictions in the articles, the funding agreement or charity law;

  • may, in certain circumstances, appoint new members or remove existing members;

  • have powers to appoint and remove trustees in certain circumstances;

  • may, by special resolution, issue direction to the trustees to take a specific action;

  • appoint the trust’s auditors and receive the trust’s audited annual accounts (subject to the Companies Act); and

  • have power to change the name of the company and, ultimately, wind up the academy trust.