RFCCBS 10.2 Members’ rights

1Members are shareholders of the society. They have voting power and can exercise democratic member control together with other members. They should try and resolve any issues they have through these processes.

1As well as any rights given in the rules of a society, the Act gives members a right to:

1. (1)

   receive a copy of the annual return and accounts of the society;

2. (2)

   receive a copy of the society rules. If the member has already been provided with a copy (e.g. on joining) and requests another copy then the society may charge a fee;

3. (3)

   inspect the society’s register of members at reasonable hours in the society’s registered office. The society should not disclose a member’s financial holding;

4. (4)

   request that the FCA appoints inspectors to look at the accounts of the society. This request must be made by at least 10 members of the society, who must deposit money with us as security for the costs of the process;

5. (5)

   request that the FCA orders an inspector to look into the society’s affairs or to call a special meeting. This request must be made by at least 10% of members, or 100 members if that is a smaller number. The request must be supported by evidence that there are good reasons to do this, and that the request is not malicious.