Member-Funded Societies (Societies Act FAQs): Difference between revisions
Jump to navigation
Jump to search
Member-Funded Societies (Societies Act FAQs) (view source)
Revision as of 15:35, 20 September 2016
, 20 September 2016no edit summary
No edit summary |
No edit summary |
||
Line 3: | Line 3: | ||
==What is a member-funded society?== | ==What is a member-funded society?== | ||
A member-funded society is a society that exists primarily for the benefit of their members. It does not receive public donations or government funding. Examples include professional or trade associations, or social or sports clubs. In its constitution, the member-funded society must declare: “This society is a member-funded society. It is funded primarily by its members to carry on activities for the benefit of its members. On its liquidation or dissolution, this society may distribute its money and other property to its members.” | A member-funded society is a society that exists primarily for the benefit of their members. It does not receive public donations or government funding beyond the threshold set in the regulations. Examples include professional or trade associations, or social or sports clubs. In its constitution, the member-funded society must declare: “This society is a member-funded society. It is funded primarily by its members to carry on activities for the benefit of its members. On its liquidation or dissolution, this society may distribute its money and other property to its members.” | ||
==What kinds of societies cannot become member-funded societies?== | ==What kinds of societies cannot become member-funded societies?== |