Our constitution needs changing. At the Annual General Meeting on Nov. 14, the Board will present a Special Resolution to include, "member-funded" in APSA’s Constitution.
Members will vote on this Special Resolution,
[b]e it resolved to accept the Constitution as is, with the
following addition,
This society is a member-funded
society. It is funded primarily by its members to carry on activities for the
benefit of its members. On its liquidation or dissolution, this society may
distribute its money and other property to its members.
Why the change?
Simply put – we’re required to. The BC Societes Act, which governs how societies (not-for-profit corporations) are created and run in B.C., has changed. One of the main changes is for societies to state, in their constitution, if they are "member-funded".
As APSA falls under the BC Societies Act, we must update our constitution by November 28, when the new Act comes into effect.
What is a
member-funded society?
According to the new Act, a member-funded society is a society that is primarily funded by its
members to carry on activities for the benefit of its members. Professional groups, clubs or sports teams are
considered to be "member-funded" as they receive funding,
predominately, from
internal sources such as:
- Member dues/fees
- Contributions from insiders (not applicable to
APSA) - Earned revenues (social enterprise) (not
applicable to APSA) - Income from property (investment income, rent, royalties,
etc.) (not applicable to APSA)
Will including the “member-funded”
statement change anything?
No. APSA has always been run as a member-funded society. However, it must be stated in our constitution now.
What happens if the Special Resolution vote doesn't pass?
If the Special Resolution is voted down, court approval would be needed to
obtain the status of "member-funded".