The purpose of the Special General Meeting is to discuss and vote on the way club property is held into the future. The GAA are introducing a Corporate Trustee model with the intention to make transactions simpler and quicker and reduce personal exposure to trustees.

There are 3 options available

Option 1. Do noting and to continue to hold club property through personal trustees

Option 2. Introduce a partial change, in that case property is held by a combination of personal trustees and the corporate trustee

Option 3. Elect to have property held only through the corporate trustee.

The Executive Committee of the club favour option 3 as

– individuals are no longer trustees and therefore are not exposed should the club/unit be sued

–   currently, when individual trustees resign or die there can be delay and cost associated with transfer of responsibility

–  If a personal trustee was to get into financial difficulty, resulting in a judgement being obtained and registered on club property, theis can cause delays and complications in dealing with the property

– any dealings with club property should be streamlined without the need for multiple copies of documents and multiple signatures

and will move a motion at the meeting to adopt it.

Comments are closed.