YorkLETS Constitution

YorkLETS Constitution  

April 2009 – amended July 2011, and July 2013.


The name of the organisation is YorkLETS, sometimes referred to as “the system” in this Constitution.



2.1.  To develop the experience of community in and around York, through the establishment of a local exchange trading system.

2.2.  To stimulate the creation of social, environmental and economic benefits for people who live in York and the surroundiing area.



3.1.  Membership is to be open to any individual aged 18 or over, or group, agreeing with the aims and rules of the system, within the terms of the Membership Agreement.

3.2.  Membership requires:

a)    the payment of membership fees, renewable annually or otherwise at the discretion of the Core Group; and

b)    agreement with the aims of YorkLETS

3.3. The procedure for termination of membership is laid out in the Membership Agreement.

3.4. YorkLETS is non-political and non-religious.



YorkLETS is an unincorporated members’ club of people and groups willing to trade amongst themselves.



5.1. The rights and authority of YorkLETS are vested in all members, who delegate that authority to a Core Group to act on their behalf.

5.2. The Core Group

a)    is responsible for ensuring that the tasks of running YorkLETS are carried out   effectively by the appointed Officers, in particular in:

·         supporting members in their trading activities;

·         recording accurately members’ transactions and supplying account statements;

·         publishing directories.

b)      will always seek to maintain two-way communication with YorkLETS members;

c)      will aim to maintain the viability of the system.

5.3. Core Group meetings

a)   will be held monthly at an accessible venue, with details published appropriately in advance;

b)   will include the YorkLETS AGM which will take place annually between July and November.

c)   will have an agenda, drawn up by the Chair and published within the Core Group;

d)   are fully minuted; copies are sent to each Core Group member and, upon request, to any YorkLETS member;

e)   are quorate when a minimum of half the members of the Core Group are present.

5.4. The Core Group maintains the smooth running of YorkLETS in matters of routine administration. Any Core Group member may be dismissed by a three-quarters majority vote of the full Core Group.

5.5. Core Group meetings are attended by all those who have taken on formal roles in running YorkLETS. Any YorkLETS member may attend and speak, but only members of the Core Group may vote. Non-members of YorkLETS may attend, but neither vote nor speak, except at the invitation of the Chair.

5.6. At each Core Group meeting, each Officer will report on activities within their area of responsibility since the last Core Group meeting.

5.7 In seeking to fulfil the aims of YorkLETS, and for no other purpose, the Core Group may:

            - raise funds

- open and maintain bank accounts

            - take out insurance

            - work with other organisations

            - do any other lawful things as are necessary for the achievement of YorkLETS’ aims.



6.1. Officers are appointed annually at the Annual General Meeting (AGM). The maximum period of time a YorkLETS member may continuously hold any single role is three years, except where a Core Group vote may extend this period. The aim is to maintain a balance between continuity of efficient administration and regular infusion of new ideas and enthusiasm in the Core Group.

6.2. At the AGM:

a)   the Chair and all Core Group officers will report on the previous year’s activity. The reports will be made available to the membership prior to the AGM;

b)   prospective officers may speak about their views concerning the next twelve months;

c)   the membership will elect by a show of hands, or, if requested by any member present, by a written ballot, the Core Group for the forthcoming year.

6.3. For all Core Group decisions, agreement by consensus is the preferred means of decision-making, although voting is always an option. A vote may be called at the request of any one member and may be secret at the request of any one member. The mechanism will be one member, one vote and a simple majority will be accepted (except in situations specified in this constitution).

6.4. An Extraordinary General Meeting (EGM)

a)   will be convened by the Core Group, giving at least seven days’ notice to the membership, at the written request of any five or more members of YorkLETS;

b)   may be attended by any YorkLETS member, each of whom may vote. Non-members of YorkLETS may speak at the invitation of the Chair, but may not vote.

6.5. Difficult or time-consuming matters may, at the discretion of the Core Group, be delegated to a Working Party, convened for the specific task and disbanded afterwards.


7. FINANCE: Sterling

7.1. Money received will be paid into the appropriate YorkLETS bank account. This account shall reuire at least 2 signatories who must be unrelated. A small amount may also be held as petty cash as authorised from time to time by the Core Group.

7.2. The Core Group will review at least annually the signatories to the account, one of whom will normally be the Sterling Treasurer.

7.3. Any member can request an update of the system’s accounts with four weeks’ notice; these will, in any case, be presented at each Core Group meeting.

7.4. No member shall receive any payment from the sterling account other than the payment of authorised expenses.

7.5 No expenses shall be paid to any member unless authorised.


8. FINANCE: Yorkys

8.1. Yorkys received through subscriptions/memberships will be paid into the YorkLETS administration account.

8.2. Any member can request an update of the system administration account(s) with 4 weeks’ notice; these will, in any case, be presented at the of each Core Group meeting.

8.3. Members may claim Yorky payment for administration/development work at rates agreed by the Core Group.

8.4. No expenditure will be automatically sanctioned without the agreement of the Core Group.


9. FINANCE: General

YorkLETS is a not-for-profit organisation.

a)      Any sterling or Yorky surplus or deficit will be reported at the AGM.

b)    The sterling budget will aim to maintain a reserve of three to six months’ running costs.

c)     The Yorky budget will aim to balance within the range ±500 Yorkys.



10.1. Changes to the Constitution can only be made at the AGM or at an EGM. Full details of any proposed changes will be circulated to all members no less than 10 days prior to the relevant AGM/EGM.

10.2. Any proposed changes will be open for comment and debate in the General Meeting.

10.3. Any changes to the Constitution (including the roles of officers) can be made only when at least two-thirds of the Core Group are in attendance and then by a two-thirds majority vote of the meeting.



11.1. The System can only be wound up after a democratic consultation process. A document will be circulated to all members explaining the circumstances and detailing the time and place of an EGM, four to six weeks later.

11.2. The system will be wound up if two-thirds of the votes cast at that EGM call for winding up.

11.4. After settling all debts and obligations, any remaining YorkLETS assets will be transferred to a local not-for-profit organisation with similar aims to those of YorkLETS. This organisation will be agreed upon at the winding-up EGM.





Adopted as amended at AGM on 4th July 2011, and updated at an EGM on 11th July 2013.








AGM: Annual General Meeting

Core Group: All YorkLETS Officers

EGM: Extraordinary General Meeting

Member: Someone who has requested YorkLETS membership and paid their subscriptions

Newsletter: Publication issued four times per year (February, May, August, and November) to keep members informed of events, issues and regulations and/or developments

Officer: A member having a formal administrative role in YorkLETS

Working Party: A group, normally of three YorkLETS members, nominated by or on behalf of the Core Group, as a means of solving problems or resolving complex issues. A Working Party’s brief is:

a)    to research, investigate and come to a conclusion on a defined issue and within a limited time frame;

b)   to make recommendations to the Core Group on how to resolve the relevant issue(s);


YorkLETS: York Local Exchange Trading System

Yorky: The currency of YorkLETS

Now look at the Membership Agreement

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