The FDT has been established on the basis of a Company limited by Guarantee (CLG) and is registered with Company’s House – Registered number SC595859 . A copy of the Articles of Association can be viewed here.
The “objects” of this company represent the activities that the trust will engage in that would meet the “charity test” laid down by the Office of the Scottish Charity Regulator (OSCR). This will allow the FDT to apply for charitable status at an appropriate time. Any “trading” type activities, which would not meet the charity test but which will generate valuable income for the trust, will be organised within a separate subsidiary Company Limited by Shares (CLS) with the Trust owning 100% of the shares.
The organisation structure that will be used to set up the development trust is shown in the diagram below. The Board of Directors appointed to this structure will steer the establishment of the Trust until its first general meeting which will be held approximately 18 months after incorporation.
The community of Finderne is spread over a wide geographical area and this will be reflected in that the board of directors will be made up in the following representative format
- Two Directors that live in the area designated as Finderne South (any residence that is accessed from the A940 road south of National Grid Reference NJ 01907 55922.
- Two Directors that live in the area designated as Finderne North (the area of Finderne not covered by the definition above).
- Three Directors with no geographical constraint.