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.
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.