Cambridge Fans United was formed in the year 2000 as an Industrial
and Provident Society (IPS)
An industrial and provident society is an organisation conducting an industry,
business or trade, either as a co-operative or for the benefit of the community,
and is registered under the Industrial and Provident Societies Act 1965. CFU
has its own IPS registration number.
CFU's registration is held by the Financial Services Authority (FSA) although
is not regulated by them because CFU is not authorised to conduct
any financial services business.
What CFU is and is not allowed to do is encapsulated in a set of Rules which
are filed, and these rules determine CFU's scope, boundaries, and the legal
framework in which it can operate.
The rules can be changed should a proposal
be put forward, provided changes are accepted by the members, and do not contravene
the overriding aims and objectives of the Trust.
Unlike Limited Companies an IPS operates on the underlying principle that all
members have an equal say and that each member holds an identical number of
shares (i.e. one share per member) - so every voice is heard on equal terms.
In addition CFU is not allowed to pay any profit it makes or funds it holds to
its shareholders, but must use it to further the aims of the IPS and with
reference to the CFU Rules
Here is the current copy of the Trust Rules and Constitution which although
wrapped up in some necessary "legal-ease" explains in detail how CFU
must operate. If you have any queries or questions about the Rules, or CFU in
general, then please feel free to complete a contact form, phone, or email the
Fans Director. You can find the
CFU contact details
Any Trust Board member will be please to help or will be able to find someone
CFU continually review the Rules and the way it operates with Supporters Direct, an organisation funded to help Supporters set up Trusts. They help with developing the legal and practical framework under which Supporters Trusts can continue to operate. They have developed and maintain a "Model" set of Rules and Processes and have access to lawyers who help on all aspects of good governance.
Working closely with Supporters Direct helps established Trusts like CFU to benefit from Best Practice as seen across a large, and growing, number of Supporters Trusts formed over recent years. Supporters Direct undertake a great deal of valuable "behind the scenes work" and the CFU Trust has fostered excellent relationships with them over the years. It's fair to say the we have learnt a lot from each other.
CFU were one of the "pioneer" Trusts and are proud to be held in high esteem by both Supporters Direct and other Trusts where numerous contacts and relationships have developed and continue to exist for our mutual benefit.
The CFU Trust Board runs the day to day affairs for CFU and all those persons serving on the Trust Board are elected by the members at the CFU AGM. They have to stand for annual re-election on a rotating basis.
If vacancies occur, or if the Trust Board believe individuals have the skills and, as importantly, the enthusiasm to help then CFU members can be co-opted to join the Trust Board on a temporary basis until offering themselves for election at the next AGM.
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