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Thread: section21 company

  1. #1
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    section21 company

    I am a member of section21 company within a sporting code

    I would like to know if members have the right to see the financial statement

  2. #2
    Platinum Member Mike C's Avatar
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    Apr 2012
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    There should be a section in the constitution which deals with Financial matters

    This should state how the money will be managed and accounted for. There should be clauses that describe how the organisation will prepare annual financial statements. You must have clauses which set a date for the end of the financial year and state that the organisation will use a banking account.

    When it comes to non-Profit organisations it is my opinion that transparency on financial matters should be of the utmost importance.
    An education isn't how much you have committed to memory, or even how much you know. It's being able to differentiate between what you do know and what you don't. - Anatole France

  3. #3
    Site Caretaker Dave A's Avatar
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    You have to pay close attention to the Constitution of the body concerned. When it comes to sporting bodies, quite often the issue isn't whether the members are permitted to see the financials, but the definition of "a member" itself.
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