Press release
Kington St Michael Club Action Group
Kington St Michael Club Action Group
Members claim the club is being run without any transparency or normal procedures taking place including annual elections or reports being filed with the Financial Conduct Authority. Members are now boycotting the club which further damages its perilous finances. A campaign group has been formed to force the current managing committee out. KSM Club Action Group is asking for members signatures to its requisition at ksmclub.co.uk and attendance at a special general meeting to be called by the Secretary.
Mutual societies depend on their members to keep running. When a mutual is wound up the assets are divided between the remaining members, which means that clubs with large property portfolios and declining memberships can be dissolved and produce a windfall gain for the remaining members.
The Financial Conduct Authority states that mutual societies can be dissolved if there’s proof that the society has wilfully violated the provisions of the law or it is no longer a co-operative society.
Kington St Michael Club Action group are against further damage to the Club's reputation and finances and are calling for elections to restore the clubs democratic foundations.
Kington St Michael Club and Institute Limited
12 Kington St Michael
Chippenham
SN14 6JB
United Kingdom
Kington St Michael Club Action group is a group of concerned members of Kington St Michael Club and Institute Limited
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