Stockland Community Pub Ltd is a Registered Society for the benefit of the community, under the Co-operative and Community Benefit Societies Act 2014.
The purpose of the Society is to enable the community of Stockland and nearby villages, and other supporters, to secure and safeguard the future of the Kings Arms public house and promote it as an amenity of prime importance to the community.
The Society is registered with the Financial Conduct Authority (FCA) using a set of pre-approved model rules developed by The Plunkett Foundation (a charity that has been helping communities to set up and run community-owned enterprises since 1919).
Plunkett now support over 50 community pubs that are up and running, with scores more in the process of starting up. They also support over a hundred community shops around the country.
For more information about registered societies and the 2014 Act, visit https://www.fca.org.uk/firms/registered-societies-introduction
The Society is a democratic organisation that operates on the principle of one member one vote regardless of the amount each member has invested.
The Society is a limited liability entity. This means that the most a member can lose is the amount originally invested (though we believe that this is highly unlikely). Investors will not be liable for any activities of the tenant.
The community benefit society structure means that any person who buys the minimum number of shares becomes a member of the Society. Each member then has one vote to exercise at the Annual Members Meeting regardless of how many shares they hold.
Members can be elected onto the Management Committee. All members will be provided with an Annual Report, which will set out details of the operation of the Society and how it has developed its activities over the previous year and which will include a report of the accounts. The Rules also provide for a number of other ways in which the membership may hold the Management Committee accountable for the running of the Society, including calling a special general meeting if required. Corporate bodies can also be members.
The Society’s rules can be downloaded here.