ST AUBYNS POTTERS
Meeting of a sub-committee held at 17 Whakariri [Whakarire] Avenue, Westshore on 29 March 1982 at 7-30 p.m.
Present: Denis (Chairman) Graeme, Jeff, Keith.
The sub-committee met to consider, and make recommendations to the next full meeting regarding
1. Pay-out to Bruce & Estelle
2. Payout to other original members if they should discontinue.
3. Cost of entrance for subsequent members (not including Wendy)
4. Refund to non-original members if they discontinue.
The Martins: It is submitted that the Martins should be paid out on the basis of the wording of what was originally the suggested Rule 19 and although that rule has probably not yet been renumbered and passed, it was undoubtedly their understanding that in fact it was passed. However the words ‘non-recurring expenses’ should not apply and should be changed to ‘current market value of assets’.
The payout recommended for the Martins is therefore
$350 being original contributions, plus
$332 being 18.74% of $1768 market value of assets.
Other Original Members: It is recommended that the appropriate rule be renumbered and that it should provide for repayment to original members when they leave, the same amount as paid to the Martins, payable when a replacement has paid the required fee. – Original members have equal payout.
i.e. Denis and Fairlie $682, others $582, except in the event of the final para below.
New Members: Initial contribution to be on the basis of one sixth of initial cost of ‘non-recurring expenses’ and this is reckoned at present to be $800. Payment after the required period may be by instalments. Any future contributions for any major capital item or unexpected major expense will be equally shared by all existing members. On leaving, the new members will receive back their contributions less the sum of $200.
Jeff requested a further rule to be added to the effect that if it should happen that the Co-operative ceased to operate, then the terms and figures that may be set out in the rules do not apply, and that in that case all the disposable value of the assets at that time are divided equally among the members at that time.
Do you know something about this record?
Please note we cannot verify the accuracy of any information posted by the community.