The Companies Acts 1985 -1989
COMPANY LIMITED BY GUARANTEE AND NOT
HAVING A SHARE CAPITAL
MEMORANDUM OF ASSOCIATION OF
TIMESHARE association (timeshare owners and committees) - tatoc
Company Number 04337250
1. The Company's name is The Association of Timeshare Owners Committees Limited[1] (also known as TATOC and in this document called ‘the Company’)
2. The registered office of the Company will be situated in England
3. The Company objectives are:
(3a) To promote within Timeshare Resorts and the industry the maintenance of high quality standards in the provision of Timeshare facilities and amenities, and to encourage the efficient management of Timeshare holiday resorts for the benefit of Timeshare Owners and
(3b) To liaise with members of Timeshare trade industry bodies, governments and government departments, and, to lobby or campaign on matters affecting Timeshare owners and the image of Timeshare and;
(3c) To support Timeshare Owners by offering information, resources and advice as and when appropriate
(3d)To utilise the other advantages and benefits usually gained by an Association.
4. In furtherance of the Objectives but not otherwise the Company may exercise the following powers:
4.1 to be an independent organisation and make its views known independently of any other organisation with which it may at the time be associated.
4.2 to cause to be written, printed or otherwise reproduced and circulated, (gratuitously or otherwise), newsletters, magazines, books, leaflets or other documents or films or recorded tapes or other electronic media.
4.3 to provide/hold forums, meetings, lectures, classes, seminars, courses, and exhibitions either alone or with others.
4.4 to foster and undertake research into any aspect of the objectives of the Company and its work and to disseminate the results of any such research.
4.5 to co-operate with and inform other organisations, statutory authorities, national local or otherwise.
4.6 to raise funds, accept subscriptions, and to invite and receive contributions.
4.7 to take on lease or in exchange, hire or otherwise acquire and hold any real or personal estate, maintain and alter any of the same as are necessary for any of the objectives of the Company and (subject to such consents as may be required by law) sell, lease or otherwise dispose of or mortgage any such real or personal estate.
4.8 to draw, make, accept, endorse, discount, execute and issue promissory notes, bills, cheques and other instruments and to operate bank accounts.
4.9 to borrow or raise money for the objectives of the Company on such terms and (with such consent as are required by law) on such security as may be thought: fit.
4.10 to invest the moneys of the Company not immediately required for its objectives in or upon such investments, securities or property as may be thought: fit, subject nevertheless to such conditions and consents (if any) as may for the time being be imposed or required by Law and subject also as hereinafter provided.
4.11 to appoint and constitute such advisory/sub committees as the Board of Directors may think fit.
4.12 to employ and pay any person or persons to supervise, organise, carry on the work of and advise the Company; Provided always that:
(i) such employees are under the orders of the Board of Directors only, and no member may reprimand an employee; and,
(ii) if a member has any cause for complaint, he must bring it before the Board of Directors in writing.
4.13 to co-operate or form an alliance with any company, institution, society or association in furtherance of the objects or of similar objects and to exchange information and advice with them.
4.14 to do such lawful things as are necessary for the achievement of the objectives.
5. The income and property of the Company shall be applied solely towards the promotion of the Company objectives.
6. The liability of members is limited.
7. No person shall be admitted to membership of the company other than a person who is or who has irrevocably undertaken to the company to become as soon as practicable, a member of the company,
8. Every member of the Company undertakes to contribute to the assets of the Company in the event of the same being wound up while he or she is a member or within one year after he or she ceases to be a member, for payment of the debts and liabilities of the Company contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributions among themselves, such amount as may be required (not exceeding £5).
9. If upon the winding up or dissolution of the Company there remains, after the satisfaction of all debts and liabilities, any property whatsoever, the same shall not be paid to or distributed among the members of the Company, but shall be given or transferred to some other association or institution having objectives similar to the Company and which shall prohibit the distribution of its or their income and property to an extent at least as great as is imposed on the Company under or by virtue of clause 5 above, chosen by the members of the Company at or before the time of dissolution and if that cannot be done then to some other charitable object.
[1] The Company changed its name to Timeshare Association (Timeshare Owners and Committees) by special resolution on 9 March 2008.
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