Friendly Society & Common Local Land

and_e_says

So there’s a common green area in our town which is owned by a list of shareholders. It was/is under the management of a registered friendly society of which the shareholders are/were members & an elected committee looked after the day to day maintenance of the area etc.

The management society has been poorly ran & while the commonage is being reasonably well maintained the society has, I believe, been struck out for failure to return accounts and also has not called an AGM in several years.

There is income from the commonage but nobody seems to be accounting for the funds other than to say that enhancement work is ongoing at the discretion of 2-3 remaining committee members who basically run the bank account & decide where/when money should be spent, but don’t report to any of the shareholders. I’m not implying any underhand dealings but the current arrangements are a bit loose.

Can existing shareholders form a new committee to take charge & look after the area & how might we go about this?

Have the remaining management committee members any more say than any other shareholder?

Do larger shareholders have more clout in the formation of a new committee?

What about deceased members: Is their shareholding extinguished? Does it automatically transfer to next of kin or can next of kin now apply for transfer of deceased person’s shares?

Thanks for any info.
Andy

Losty Dublin

Have you looked here for information? It may be a useful first step for you.

https://www.cro.ie/Registration/Society-Union

and_e_says wrote: »

So there’s a common green area in our town which is owned by a list of shareholders. It was/is under the management of a registered friendly society of which the shareholders are/were members & an elected committee looked after the day to day maintenance of the area etc.

The management society has been poorly ran & while the commonage is being reasonably well maintained the society has, I believe, been struck out for failure to return accounts and also has not called an AGM in several years.

There is income from the commonage but nobody seems to be accounting for the funds other than to say that enhancement work is ongoing at the discretion of 2-3 remaining committee members who basically run the bank account & decide where/when money should be spent, but don’t report to any of the shareholders. I’m not implying any underhand dealings but the current arrangements are a bit loose.

Can existing shareholders form a new committee to take charge & look after the area & how might we go about this?

Have the remaining management committee members any more say than any other shareholder?

Do larger shareholders have more clout in the formation of a new committee?

What about deceased members: Is their shareholding extinguished? Does it automatically transfer to next of kin or can next of kin now apply for transfer of deceased person’s shares?

Thanks for any info.
Andy