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

[Edward Bainton]

In case I wasn’t clear (I don’t think I was), this email relates to the
legally-required ‘register of members’ (which in principle is open to
public inspection) and the information about each normal member that must
be included.

Sent from my mobile device with apologies for brevity.


On Sun, 11 Aug 2024 at 18:20, Edward Bainton <bainton.ete at gmail.com> wrote:

> 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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