An Honest Game? Convince Us.

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CAMPBELLSMONEY says: April 2, 2014 at 12:11 pm Rate …

Comment on An Honest Game? Convince Us. by woodstein.

CAMPBELLSMONEY says:
April 2, 2014 at 12:11 pm

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Angry Young Man62 says:
April 1, 2014 at 7:33 pm
so a question to anyone who may know – by what process does an incorporated club become un-incorporated? or cn re-incorporate?
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There really is no such thing as an incorporated club – in real terms that just means that a company that now holds the assets that were previously owned by a club. Sometimes we talk about a sole trader or a partnership “incorporating” (all we mean by that is that a new company is being set up and the relevant business and assets are acquired by the new company). There is no change in legal status of any legal entity. In my example, the partnership remains a partnership (it just doesn’t have a business) and the new company is a company but it now holds the business and assets previously owned by the partnership.
Similarly – a company cannot “unincorporate”.
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“There is no change in legal status of any legal entity”

Oh yes there is. An extract from WRU (Welsh Rugby Union)
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An Unincorporated Association is the most common structure used by many sports clubs. The members come together and agree to establish a club with rules and operating procedures. These are then set down in the Constitution. It is the simplest form of club structure, the easiest to operate, and the one that most members will be familiar with.
Important bit:-
**An unincorporated club has no legal identity of its own. It is run by a committee and it will be member(s) of the committee that have to enter into contracts on behalf of the club. **
WRU advice:-
Converting the club to a Limited Company enables your club to become established as a legal entity in its own right, separate from the individual members
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Similarly – a company cannot “unincorporate”.

It winds up the Limited company and forms a new unincorporated association.
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When I was asked to call on a member of the Clubs and Institute Union (WMCIU) and obtain a new completed Insurance proposal form, because they had decided to incorporate and change their legal status to a limited liability company, the reason was that the Life Assurance Act 1774 had established a legal principle that prohibited insurance contracts if no insurable interest could be proven.

The original policy in the name of “The Trustees of the Wheel Tappers and Shunters club” was no longer valid and had to be updated to the new legal entity “WTS Ltd. “ It had changed its legal status.

Otherwise if the club burned down they would have had no legal claim. (no insurable interest).

In the USA they take it even further and grant a new legal status of a living entity.

“A company or association of persons can be created at law as legal person so that the company in itself can accept Limited liability for civil responsibility and taxation incurred as members perform (or fail) to discharge their duty within the publicly declared “birth certificate” or published policy”

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TSFM says:
April 5, 2014 at 4:34 pm

Woodstein
Can you tone down the indignation just a wee bit?
Not indignant at all apologies if I came across that way.

Thanks WS – TSFM

BARCABHOY says:
April 5, 2014 at 4:39 pm
Are you any relation to Goldstein , late of this parish ?.
No used to be ianjs


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Wow, that took me back to 1972 when I used to underwrite bonds of caution for the Insurance company I worked for at that time.
Was never involved with them since.


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