Richmond and District LETS Constitution



1.1 The name of the organisation is Richmond and District LETS – referred to as ‘the System’ in this Constitution.


2.1 To develop and encourage the experience of Community in Richmond and District through establishment of a Local Exchange Trading System.

2.2 To stimulate the creation of social and economic benefits by and for its members and the people of the locality of Richmond and District, North Yorkshire.


3.1 Membership of the System shall be open without prejudice to any individual or organisation sympathetic to the aims of the System, subject to restrictions that may be applied by the Core Group in exceptional cases, such as for abuse of the System.

3.2 Membership shall be dependent on

A] The payment of membership fees, renewable annually or otherwise at the discretion of the Core Group: and

B] The named applicant’s endorsement of the Richmond and District LETS Members’ Agreement and the Constitution.


3a.1 Richmond and District LETS is an unincorporated members’ club of people willing to trade amongst themselves.


4.1 The rights and authority of the System are vested in all members who delegate that authority to a Core Group to act on their behalf.

4.1.a The Core Group is responsible for ensuring that the tasks of running the System are effectively carried out.

4.1.b The Core Group includes all those who have taken on the tasks of running the System, especially: the Co-ordinator, Cobble Accountant, Treasurer, Membership Secretary, Social and Trading Organiser and Promotional Materials nad Displays Organiser .

4.1.c Only members of Richmond and District LETS can join the Core Group.

4.2 An Arbitration Group is set up with the following functions:

4.2.a To ensure the accountability of the Core Group to the Membership.

4.2.b To adjudicate in any case of dispute between members, or between members and the Core Group.

4.2.c The Arbitration Group will consist of three people.  They will meet from time to time as necessary.

4.2.d The Core Group meetings will normally be attended by one Arbitration Group member.


5.1 Every member is entitled to one vote at general meetings.

5.2 The members at the Annual General Meeting shall appoint a Core Group and Arbitrators.

5.3 Nominations for membership of the Core and Arbitration Groups are invited fourteen days before the AGM.

5.4 Consensus vote shall be the preferred means of decision making.


6.1 The Core Group undertakes the administration of the System, apportioning such roles and functions as necessary to maintain the System in the interests of membership as a whole including:

6.1.a Maintaining an up-to-date list of members.

6.1.b Recording accurately members’ transactions and supplying accounts.

6.1.c Maintaining the website.

6.1.d Communicating with the membership and taking note of their opinions.

6.1.e Maintaining the financial viability of the System.

6.1.f Wider development of the System


7.1 The Core Group shall arrange and determine the timing and frequency of its meetings.  These shall be at least every three months.

7.2 The Core Group shall publicise its meetings in advance to all members, normally through the regular System mailing or newsletter.

7.3 The Core Group shall keep a record of all its meetings and make these available to all members.

7.4 Core Group meetings are open for any member to attend and to make a contribution.

7.5 The quorum shall be a majority or four members of the Core Group, whichever is larger.

7.6 Any Core Group member who is absent from three consecutive meetings without good reason or notice, shall be deemed to have resigned their position and shall be notified to that effect.

7.7 The Core Group may co-opt new members onto the Group given the consent by majority vote of the Group.  Members so appointed hold office only until the following AGM, but are eligible for re-election at the meeting.  Members may also be appointed for a shorter trial period.

7.8 Any Core Group member may be dismissed for reasons of exceptional mismanagement or gross misconduct by a three quarters majority vote of the entire Core Group.


8.1 The Core Group shall organise an Annual General Meeting once in every calendar year.

8.2 The Core Group shall arrange General Meetings (including Extraordinary Meetings) either at the request of their own members, or at the request of at least four members of the System.

8.3 Fourteen days notice of each General Meeting, or seven days notice of an Extraordinary Meeting shall be given to members.

8.4 Membership entitles each holder to vote at any General Meeting


9.1 Any monies received shall be paid into the Richmond and District LETS Administration Account at the Richmond Branch of Barclays Bank (or at such other Bank as the Core Group shall decide from time to time).

9.2 Any monies received or paid out in the name of the System shall be paid into or from the System account.  The Core Group shall decide from time to time which signatories can be accepted for financial transactions with the Bank.

9.3 No member shall derive any sterling benefit from the System, other than the payment of reasonable expenses.

9.4 Members can be paid reasonable wages in LETS for administrative work carried out in agreement with the Core Group.

9.5 Any Core Group member who carries out an agreed activity on behalf of the System will not be held personally liable for reasonable debts, and will be entitled to be indemnified from the System funds provided that no payment shall be made, or obligation entered into, which cannot be met by the balance of funds held by the System.

9.6 A copy of the most recent annual statement of accounts (in both the sterling and LETS accounts) shall be made available to any member on request, and shall be presented at each Annual General Meeting.

9.7 Richmond and District LETS is a non-profitmaking organisation.


10.1 Any business of the System and all correspondence between LETS and any other body, will be brought to the attention of the Co-ordinator for consideration by the Core Group, or Membership, as appropriate.

10.2 The Core Group and members of the System will adhere to the requirements of the Data Protection Act.


11.1 The documents relating to the setting up and early development of the System will be archived as an historic record and held by a member of the Core Group.


12.1 Any changes to this Constitution can only be made by a two thirds majority vote at a General Meeting.  At least two thirds of the Core Group and five other members shall attend.  Notices giving full details of the proposed changes shall be posted to all members at least fourteen days before the meeting.


13.1 The System can only be wound up after a consultation process with all members.  A notice of an Extraordinary General meeting will be sent to all members at least one month before it is held.  The notice will invite all members to a meeting to discuss ways of enabling the System to continue, and inviting members to come forward as candidates for the various Core Group roles.

13.2 The System can only be wound up by a two thirds majority vote at a General Meeting.  At least two thirds of the Core Group and five other members shall attend.  A notice giving full details will have been posted to all members at least fourteen days before the meeting.

13.3 After settling all debits and obligations, any remaining property shall be transferred to an organisation with similar aims to be decided at the meeting.


Some aspects of the Constitution need updating and this will be reviewed at the next AGM, Feb 2014