Our Constitution

NAME: The name of the organisation shall be New Moray Local Exchange Trading System. (Called New Moray Lets.)
AIMS: To provide a local exchange trading system for members.
OBJECTIVES: To keep LETS trading and administrative cash accounts. To produce a regular Directory of members offers, wants and contact details. To organise events and activities to promote local trading. To link with other LETS groups. To encourage active participation by members in trading and achieving the objectives of the organisation. To recruit new members.
POWERS: To raise funds to further the aims and objectives of the organisation and to accept grants and gifts. To open and operate bank accounts.
To do any other lawful thing to promote the aims and objectives of New Moray LETS.
MEMBERSHIP: Any person over the age of thirteen whom is normally resident in the Forres Area may apply for membership.
Application for Membership: Any person who wishes to become a member shall lodge with the association a written application for membership in such form as the Core Group requires, and lodge such evidence in support of the application as may be requested by the Core Group. The application shall be considered at the next meeting of the Core Group which is held after the receipt of the written application. The Core Group shall be entitled at its discretion to refuse to admit any person or group to membership.
Rights of Membership: All members are entitled to attend and vote at General Meetings of the Association. All members are entitled to vote in any ballot organised by the Association. All members are entitled to stand for election to the Core Group. All members are entitled to submit motions for discussion at General Meetings of the Association. A person shall not be eligible to vote at a General Meeting unless he/she has been a member of the Association for at least three months. A person shall not be entitled to stand for election to the Core Group unless they have been a member of the Association for at least one year; a person who has been a member of the Association for less than one year may nevertheless, be co-opted by the Core Group to serve as a member of the core Group.
SUBSCRIPTIONS: Members shall be required to pay a subscription fee at a level determined by the Association at a General Meeting.
GENERAL MEETINGS: Each year the Association shall convene an Annual General Meeting for the purposes of reporting on their activities within the previous year, and holding elections for the Core Group for the coming year. Not more than 18 months may elapse between Annual General Meetings.
Notification of General Meetings: Each of the members will receive notice in writing at his/her address (as last notified to the Association), or (if he/she has supplied the Association with an e-mail address) by way of e-mail, not less than 21 days before the meeting is due to take place.
Proceedings at Annual General Meetings: The business of an Annual General Meeting will entail:
The presentation of the accounts for the previous year. The election of members to the Core Group for the coming year. Any other business that the Core Group or members wish to discuss. The distribution of any Lets credits in the community chest account to local good causes.
Special General Meetings A General Meeting, other than an Annual General Meeting, can be convened at any time by the Core Group following the proper notification of all members of the Association, stating the reason for the meeting taking place. In addition, the Core Group shall convene a General Meeting, if it receives a written request, made by a minimum of 15 members who are eligible to vote at a General Meeting, requesting that such a meeting take place. Again the Core group is responsible for ensuring that all members of the Association receive proper notification of the meeting. If after 21 days of the request being made, the Core Group has not convened a General Meeting, then the members who made the request are entitled to convene the meeting by the proper notification of all members of the Association.
Voting at General Meetings Each member (other than a person who has been a member for less than three months) is entitled to one vote at General Meetings. Voting shall be by show of hand unless the majority at the meeting request that a secret ballot take place. In all cases a simple majority will suffice in any vote.
Quorum at General Meetings. The quorum for a General Meeting shall be 10. In the event of a quorum not being present within 30 minutes of the commencement of the meeting, the General Meeting will be re-convened to take place at a future date following the proper notification of the members. If the re-convened General Meeting remains inquorate, it shall be empowered to conduct the business of the meeting.
CORE GROUP The Association shall form a core group to act on its behalf in between General Meetings.
Composition of Core group. The core group shall consist of no fewer than three and no more than nine members elected at the General Meeting. In addition, the core group has the power to co-opt further members provided that the total number of members of the core group (including elected members) does not exceed nine and the number of co-opted members does not exceed the number of elected members.
Retirement of Core Group Members: Members of the core group may resign at any time, but in the case of an elected or co-opted member not attending three or more consecutive meetings without explanation, then that person shall be deemed to have resigned from the core group. Core group members must stand down after two years in post but can restand for election.
Proceedings at Core Group Meetings: The core group shall meet at least four times each year and ensure that proper minutes of each meeting are taken and retained by the Administrator.
Quorum at Core Group Meetings: The quorum for core group meetings is three members but in the event that the membership of the core group falls below that number for any reason, then the core group may meet solely for the purpose of taking any action to restore its membership to a minimum number.
Sub-Committees: The Core Group may create any standing or ad hoc committees it wishes in order to further its objects but all such sub-committees must report directly to it.
AMENDMENTS TO THE CONSTITUTION: Any alterations to this constitution must be passed by a two thirds majority of the votes cast at a General Meeting, whether Annual or Special, at which details of the proposed alteration have been given to all members, not less than 21 days before the meeting is due to take place.
FINANCE: The Core group shall keep proper accounts of the finances of the Association and shall ensure that those accounts are presented to the Annual General Meeting. Any member eligible to vote at a General Meeting shall be able to inspect the annual accounts of the Association within seven days of making such a request. Members of the core group shall receive remuneration, in Lets or sterling, from the Association at an hourly rate, as agreed by members at the Annual General Meeting. All monies raised by the Association shall be applied to further the objects of the organisation and for no other purpose.
DISSOLUTION: In the event of the Association deciding on the grounds of expense or otherwise to dissolve, it shall convene a General Meeting, giving at least 21 days notice in writing of its intention, to all members. If such a decision is confirmed by a two-thirds majority of the votes cast at that General Meeting, the Association shall have the power to dispose of its assets. Any assets remaining after the satisfaction of proper debts and liabilities shall be transferred to any other organisation, having Aims and Objectives similar to those of the Association.

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