Beaumaris Conservation Society Inc. Endowment Fund

BCS

Inc. Regulation No. 1:

‘Beaumaris

Conservation Society Inc. Endowment Fund’

This Regulation was made by a resolution of the
Committee of the Association, in accordance with Rule 27 of the
Constitution, at its meeting on 5th
March 1998, under the common seal of the
Association.

The Society shall maintain within its accounts a
separate fund to be called the ‘Beaumaris
Conservation Society Inc. Endowment Fund’. The
capital and income from the Endowment Fund shall be
specifically identified in the financial report
presented to and adopted by each Annual General
Meeting of the Society.

The purpose of the Endowment Fund is for it to be
invested to earn income to provide to the greatest
extent possible an annual payment to the Society,
for each Life Member and Honorary Life Member of the
Society, equal in amount to the annual subscription
of an Individual Membership for that year, as an
equivalent payment for what would otherwise be paid
by such Life Member or Honorary Life Member if they
were an Individual Member.

For each Life Member or Honorary Life Member
admitted to the Society there shall be paid once
into the Endowment Fund a capital amount equal to
twenty times the subscription payable for an
Individual Member. In the case of a Life Member the
payment shall be made by the Life Member before
being admitted. In the case of an Honorary Life
Member the payment shall be made by the Society. The
Society may pay such other amounts into the fund as
it thinks fit.

The income from the Endowment Fund shall be paid
into the general funds of the Society, but capital
shall not be withdrawn from the Endowment Fund
except by a resolution carried at a General Meeting
of the Society by at least three quarters of the
members present.

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.……………………V.Ross………………………………….

President

……………………K.Rendell………………………………

Secretary