The scheme provides flexibility for share holding Members to reduce their share holding, and for other people to increase their share holding.
1. If a Member wishes to reduce their shareholding, and people want to buy the same number or more of shares, the Directors will buy back the shares from the Member and immediately sell them to new people who will become Members.
2. If adults want to buy shares for children or grandchildren for when they grow up, the adult/s can buy the shares, and when their children or grandchildren become 16 years old, apply to the Directors to withdraw their shares and take a reimbursement. The Directors will then resell the shares to the 16 year old.
3. Because children under 16 cannot own shares, if a group of children aged under 16 years, want to club together to raise £50 value of shares or more, an adult/s has to apply for and own the shares.
e.g. if a school supported pupils in their wish to raise funds for the Hall, an adult/s such as the head teacher could be the named shareholding Member. If the head teacher left the school, the outgoing head would apply to the Directors and take a reimbursement. The Directors would then resell the shares to the in-coming head.
The scheme complies with the governing Rules.