[Osmf-talk] Recent changes to UK Companies Act: members of the Foundation

[Edward Bainton]

Arnalie's note on memberships has reminded me I meant to circulate this
months ago and forgot:

ICYMI (!), the UK's Economic Crime and Corporate Transparency Act 2023 has
made changes to the Companies Act 2006.

*Changes*
The following seem to me to be relevant to members ('normal members') of
the Foundation, and anyone thinking of applying:

   1. Members now have a legal obligation to give their legal first name
   and legal surname (previously 'name' was not defined).
   2. Members no longer need to give their home address: they can give a
   'service address' instead, which is any address where hard-copy documents
   will reach you.
   3. Members must notify the Foundation within 2 months if their name or
   address changes. Anyone who does not (without reasonable excuse) is guilty
   of a criminal offence.

For the Foundation itself, there are stricter requirements to keep the
register accurate and up to date, along with greater powers to do so:

   1. The Foundation can require a member to supply relevant information
   2. A member who does not comply with such a request (without reasonable
   excuse) is guilty of a criminal offence

For the Board, the existing criminal offences relating to inaccuracies in
the register continue, but directors are now required to be proactive in
maintaining the register, not reactive as previously.

The updated legislation is here
<https://www.legislation.gov.uk/ukpga/2023/56/part/1/crossheading/register-of-members>.
(The aim is to prevent London being the home for money laundering that it
appears to be at the moment.)

*Recommendations*

   1. For the good running of the Foundation as well as to protect the
   Board, my personal recommendation is that members ('normal members') should
   have to declare annually that their name and service address have not
   changed.
   2. It would be good to investigate whether the Foundation's own
   registered address could be made available as a service address for members
   concerned for their privacy.

(Needless to say, I'm happy to help make those a reality if that's helpful.)


Edward
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