Brampford Speke, Upton Pyne & Cowley

Community Land TrustLtd

(BSUPC CLT)

BSUPC CLT is a Community Benefit Society

FSA Registration No. 31848R

Membership Application

BSUPC CLT’sinitial objectives are to provide affordable housing for people with a local connection to our two parishes.We are asking those who want to support these objectives to become Members.

As a Community Land Trust,BSUPC CLT is

  • owned by the community
  • run by the community
  • for the benefit of the community
  • not for personal profit.

BSUPC CLT is registered with the Financial Services Authority as a Community Benefit Society to protect these features.

People – in our case mainly local residents –become Members by buying a £1 share.Each Memberwill have one, equal vote at Annual/Special General Meetings, and will be able (i) to put themselves forward as a Director and (ii) to elect the Board of Directors.

Unlike a share in a company you will not receive any payment from profits. The shares cannot rise in value but may lose value. You cannot sell them.

BSUPC CLT’s aim is to hold its assets ‘in perpetuity’. For the medium term the affordable homes may be leased to an affordable housing provider such as a housing association.The CLT may in due course do other things allowed by its Rules.

Membership Application

I, the undersigned, support the objectives ofBSUPC CLT and apply to become a Member.

I understand that:

  • People under 16 may not be Members.
  • Members each have one vote at General Meetings regardless of how many £1 shares they hold.
  • Shares will never be worth more than I pay for them, and could even reduce in value and there will be no dividend payable to subscribers.
  • By acquiring at least one share, I am signing up to the Rules of the CLT and any Standing Orders in force (details available from the Secretary).
  • This is not a savings scheme and I may not get any or all of my money back should I ever ask for this in the future.
  • If I wish to leave the CLT, I must apply in writing to the Secretary at the Registered Office and that the Board will consider whether my share money can be returned. The CLT cannot guarantee it will have sufficient funds.
  • The shares are not backed by any compensation scheme or ombudsman.
  • An annual membership fee may be charged, but not until 2015 at the earliest
  • My application will be considered by the Board and may not be accepted.

I have filled in the Membership Application Details and submit this Application with my payment of £1 (if by cheque, payable to ‘BSUPC CLT’).

Signed ______Date______

Membership Application Details

Surname
First Name(s)
Title
Address
Post Code
E-mail address
(Email is our preferred method
of communication)
Telephone number(s)

Registered Office:

Chamberlains Cottage, Brampford Speke, Exeter EX5 5DR

Membership Secretary:

Geoff Saltmarsh

Jackmoor House, Upton Pyne, Exeter, EX5 5HY