Hi all;

 

In my most recent newsletter I made the following statement based on what I heard at the March general meeting. 

 

“At the February meeting, President Dan McLaren started by thanking member Perry Chow for stepping up and  accepting the treasurers position. He then asked the Club to    officially vote Perry in — unanimously accepted. Dan then informed the Club that this would not be a meeting as there was no recording secretary. He explained that the rules of the Registrar of Companies states that a Club must have a working executive which, at this time, we did not have. If we did not have a secretary, then the Club cannot conduct any business and if the position is not filled then a worst case scenario

would be that the Club would fold and our property would revert to the Crown and all assets would have to be designated to a recipient.”

This statement is misleading and for that I apologize.  Member Neil Rich inquired with the Registrar of Companies and the following is what is specified under the Societies Act.   

The only requirement under the BC Societies Act is to have 3 directors.  The VMC has the potential of 9 directors and past president and in their opinion, the club is operating within the governance of the Societies Act unless our Constitution/bylaws state otherwise.

Our bylaws indicate Pres, Vice-Pres, Secretary and Treasurer, up to 5 directors and past president.  Our bylaws do not stipulate any recourse if these positions are not filled.  Therefore, the VMC is operating within its bylaws and is still in good standing under the Societies Act.

The VMC can be dissolved by four ways.

1      Cancellation by the Lieutenant Governor – It’s not likely as this is an order in council by government

2.       Dissolutions and cancellations of registrations by registrar – It’s not likely as the VMC is operating within the rules of the Society Act

3.       Voluntary winding up requires special resolution – It’s not likely as the VMC is operating within its by-laws as there is no rule in our rules that state otherwise

4.       Winding up by Court Order – It’s not likely as we are solvent and operating legally

Based upon my review under the Societies Act, I’m unable to determine what happens to the assets if a club voluntary winds down, so I’ll be contacting them again to find out what actually happens.

Neil Rich. 

Sorry for any inconvenience and thanks Neil for the correction - Roger.