Next Meeting

The next meeting will be 8:00pm Monday 21 May 2012 at the Holden Arms.


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Constitution of the Club


The Belcombe Investment Club

This agreement is made this 2nd day of September in the year Nineteen Hundred and eighty-seven between the undersigned for the purpose of joint investment in stocks, shares, bonds, options and securities for their mutual benefit and interest.

1.    The Club shall be governed by the decision of a majority of members present and voting, except where the Chairman has a casting vote in accordance with the rules or where a poll is demanded in accordance with the rules or as hereinafter laid down save that no member shall be deprived of his equitable share in the assets of the Club and any member may at any time give notice of termination of his membership of the Club, in which case he shall be paid his equitable proportion of the assets which shall be paid to him within four weeks of the notice, unless the Rules shall provide for any other reasonable period of time.

2.    Members shall be bound by the Rules of the Club at any time existing which have been passed by majority resolution at a General Meeting, save that the provisions of this Constitution cannot be altered without the agreement of all the members of the Club for the time being.

3.    The Club shall hold a General Meeting in every calendar year as its Annual General Meeting, provided that every Annual General Meeting except the first shall be held not more than fifteen months after the holding of the last preceding Annual General Meeting and that so long as the Club holds its first Annual Meeting within fifteen months of its inauguration it need not hold it in the year of its inauguration or in the following.  At each Annual General Meeting officers shall be elected for the forthcoming year, a statement of accounts shall be presented by the Treasurer together with the report of the Auditors and any other matters of business normally dealt with an Annual General Meeting shall be transacted.

4.    The members shall appoint a person or persons who shall not hold executive office in the Club to act as Auditor or Auditors and that person or persons shall retire at each Annual General Meeting and shall be eligible for re-election.  It shall be the duty of the Auditor or Auditors to report to the members at each Annual General Meeting on the accounts and records of the Club that have been kept over the preceding year and they are specifically required to verify the assets of the Club at the date to which the accounts are made up.

5.    There shall be maintained proper records of account which shall be kept by the Treasurer which shall be available for inspection by any member at any reasonable time.

6.    The members of the Club shall make regular contributions in such amounts and on such a basis    as is from time to time agreed.

7.    The Club shall open an account with a joint stock bank or building society and all partnership monies shall be paid into this account.  Withdrawals from the account may only be made by a Club member holding the position of Secretary, Treasurer or Assistant Treasurer.  [Rule amended at AGM 13.11.94]

8.    The Club shall utilise the services of a Nominee Company, or it will appoint not less than two Trustees who shall be required to sign a Declaration .of Trust.

9.    No member shall be compensated for services rendered to the Club and no members shall bind or obligate any other members of the Club or the Club in general to any matters outside the affairs of the Club, and in respect of the Club’s business they shall only enter on the authority of a resolution passed by the members.

10.    If any member shall assign, charge or encumber his share in the Club or any part thereof or shall suffer the same to be charged for his separate debts under the Partnership Act 1890, or shall become bankrupt or lunatic or otherwise permanently incapable of seeing to the Club’s business or shall act in a manner inconsistent with the good faith observable between members or shall be guilty of any conduct which would be a ground for dissolution of the Club by the Court, it shall be lawful for the other member or members to issue a notice in writing to the offending member of the intention of the other member or members to consider the expulsion of the offending member.  Any member may be expelled from the Club if all of the members present and voting so decide by resolution and provided that the member expelled shall be given an opportunity reasonably convenient to him to offer to the members such explanation as he considers desirable, and he shall be notified of such opportunity by notice in writing.  A member shall be notified of his expulsion by notice in writing and shall cease to be a member from the day of the posting of such notice, which shall be sent by registered mail to the last known address of the said member.

11.    IN WITNESS whereof the undersigned have set their hands this 2nd day of September in the year Nineteen Hundred and eighty-seven.