The name of the organisation is Devon North Local Exchange
Trading Scheme, or Devon-North LETS, also referred to as "the LETS"
or "the scheme" in this Constitution.
2. AIMS & OBJECTIVES
2.1 To develop and encourage the experience of community and
sustainability through the establishment of a Local Exchange Trading
2.2 To stimulate the creation of practical, economic, educational
and social benefits by and for its members and the people of all
communities in the Northern area of the county of Devn.
2.3 To contribute to the development and knowledge of how to manage
2.4 To support the principles and practices of mutuality, kindness,
co-operation, and innovation.
3.1 Membership of The LETS shall be open without prejudice to
any individual or organisation sympathetic to the aims of the
3.2 Acceptance into membership shall be dependent on (a) the applicant's
endorsement of the LETS Rules and Constitution, (b) the payment
of any membership fees, renewable annually or otherwise, which
may be charged (either or both in Sterling or LETS currency units)
at the discretion of the Management Group.
3.3 The LETS follows an equal opportunities policy and does not
discriminate on the basis of age, ability, gender, orientation,
culture, race or wealth. It is non-sectarian and non-party political
and will not affiliate to any party political organisation.
3.4 The Committee has the right to terminate membership in event
of a serious breach of the LETS membership agreement. The member
concerned has the right to appeal to a Mediation Group.
4. LEGAL STATUS
4.1 The LETS is an unincorporated members' club of people willing
to trade amongst themselves.
4.2 The LETS is independently affiliated to LETSlink UK and/or
its local regional network if this has been formed.
4.3 The scheme aims both to abide by, and contribute to, LETSlink's
guidelines for best practice in managing Local Exchange Trading.
5.1 The rights and authority of The LETS are vested in all members,
who delegate that authority to a Committee, to act on their behalf
to ensure that the tasks of running the LETS are effectively carried
out and the organisation operates according to LETSlink guidelines.
Members of the Committee are responsible for governance, administration,
funding and strategy of the scheme, and outreach to local and
5.2 The Committee begins as a Steering Group who continue to
function until the first AGM when a committee consisting of at
least is members will be elected.
5.3 The Committee shall appoint from amongst its number a Chair,
Secretary and Treasurer, and optional Vice-chair. Its functions
(a) To act as, or appoint a separate Management Group (sometimes
known as a Core Group), or individual Administrators, to run the
scheme on a day-to-day basis. (The expression 'Administrator'
is used below to indicate the persons or group acting in that
capacity, and they may take on individual roles such as coordinator,
directory editor, membership secretary and events organiser, according
to their particular resources and talents and the requirements
of the Scheme, and form sub-groups as required to meet expanding
(b) To act as a member liaison and support group, presenting the
proposals, opinions, advice and complaints of any members who
may feel unable to speak directly to the Administrators.
(c) At least one Committee member will normally attend
Administration meetings where a separate group has been appointed,
and report to other members of the Committee any matters of concern.
(d) To appoint or create from within its membership a Mediation
group (see below).
(e) Maintaining the financial viability of the LETS in terms of
both national and local currency, including power to raise money
(Sterling) by appropriate means for the purpose of promoting and
operating the scheme.
(f) Liaising with the national or regional LETSlink, providing
an annual report as a minimum including notice of the AGM.
6. COMMITTEE MEETINGS
6.1 The Committee shall arrange and determine the timing, format,
and frequency of its meetings. This will normally be at least
every three months.
6.2 They will publicise their meetings in advance to all members.
6.3 The Committee shall keep a record of all its meetings, and
once they have been agreed by those present, will make them available
for viewing by all members within a month of the meeting.
6.4 Committee meetings are open for any member to attend and make
a contribution, but not to vote. The quorum shall be a majority
or five voting members of the Committee, whichever is smaller.
6.5 Any Committee member who is absent from three consecutive
meetings without good reason or notice will be deemed to have
resigned their position, and if so deemed, shall be notified to
6.6 The Committee may co-opt new voting members from amongst the
Scheme membership to fill vacancies or bring in additional skills/experience.
Members so appointed hold office only until the following AGM,
but are eligible for re-election. Members may also be appointed
for a shorter trial period.
6.7 The Committee may also appoint External Advisors who are not
members, to contribute to particular issues. Advisors are not
eligible to vote.
6.8 Where the Administration functions are delegated, one representative
of the Administration group may attend and is empowered to vote
at Committee meetings.
7. FUNCTIONS OF THE ADMINISTRATION
7.1 The Committee shall apportion such roles and functions amongst
its membership, and appoint such sub-committees as are necessary
to maintain the scheme in the interests of the membership as a
(a) Maintaining an up-to-date list of all members, with contact
(b) Recording accurately members' transactions and supplying accounts.
(c) Publishing directories.
(d) Communicating with the membership and taking note of their
(e) Organising social events for members, plus public meetings
and other outreach efforts, to ensure that good connections are
maintained with the local community.
(f) Member support, both in relation to managing online accounts
and finding trading partners, sometimes called "brokering".
(g) Creation and management of funds to achieve particular goals,
eg gardening projects, social fund for vulnerable members, etc
7.2. They may adopt appropriate tools, including online software,
to maintain maximum efficiency in carrying out the above tasks.
7.3. They may meet up from time to time, for liaison or training
purposes, otherwise maintaining contact by phone and email, or
by access to an online system.
7.4. They may request occasional support from other members,
and may co-opt others as the need arises.
8. MEDIATION GROUP
8.1 The function of this group is to ensure the accountability
of the Administration to the membership, and to adjudicate in
any cases of dispute between members, or between members and the
8.2 By default it will consist of the Chair, Secretary and Treasurer,
or it may appoint at least two (ideally three) people, who may
also be members of the Committee. They will meet from time to
time as necessary.
8.3 Where mediation has failed, a member from the group will
contact LETSlink nationally or through a regional organisation
if there is one, for support in resolving the dispute, failing
which an aggrieved member may contact LETSlink direct.
9. DECISION MAKING PROCESSES
9.1 Consensus shall be preferred means of decision-making, failing
which votes are taken.
9.2 Members of each Committee or Group will agree amongst themselves
what decisions may be made in the course of carrying out their
normal duties, which decisions should be referred to the main
committee, and which should be referred to the membership as a
whole, if not already provided for in this constitution.
9.3 Members of each Committee or Group will determine, having
taken advice if necessary, what roles are needed amongst their
group to carry out their functions and whether a sub-group is
required, and will report these to the membership, together with
minutes of the meeting, within a month of an election having taken
place. This structure will remain on record and available to members,
and will serve as a template until updated.
10. GENERAL MEETINGS
10.1 Membership entitles each holder to one vote at general
meetings. Organisational members shall be entitled to one vote
at general meetings, via the organisation's designated representative.
10.2 An Annual General Meeting (AGM) shall be held once in every
calendar year in order to appoint a Committee and other groups,
as appropriate, to serve for the period until the next AGM.
10.3 Nominations are invited before the start of the AGM. Any
member in good standing is eligible for election at the AGM.
10.4 The Committee may call an Extraordinary General Meeting
(EGM) at either the request of their own meeting, or issue notice
of such a meeting at the request of at least six members of the
scheme within four days of such a request.
10.5 LETSlink may call an EGM in exceptional circumstances (see
10.6 Fourteen days notice of the AGM, or seven days notice of
an EGM, shall be given to members, together with the main agenda
item/s and an invitation to submit further items for the agenda
10.7 The quorum for general meetings will be at least two thirds
of the serving Committee and five other members. If the meeting
is inquorate the Committee will call for another meeting within
one month. If the second meeting is inquorate they will nevertheless
proceed to conduct the business.
11.1 Any monies received in the name of the LETS shall be held
in an account at such bank or similar institution as the Committee
shall decide from time to time and in accordance with instructions
from a general meeting. The Committee shall decide from time to
time on signatories for the account(s).
11.2 Subscriptions to LETSlink UK will be paid out of the the
LETS account at the rates currently set by the national organisation,
to include membership, domain name management, and hosting, as
appropriate, and may include an element of membership fees.
11.3 The LETS is a not-for-profit organisation. No member shall
derive any sterling financial benefit from the scheme, other than
the payment of reasonable expenses.
11.4 Any member who carries out an approved activity on behalf
of the scheme will be entitled to be indemnified from the LETS
funds provided that such payment is in accordance with accepted
practice, and that no payment shall be made, or obligation entered
into, which cannot be met from the balance of funds held by the
scheme. Payments from the LETS funds for special activities or
projects will normally be agreed by the Committee in advance,
and exceptionally may be approved retrospectively.
11.5 Members may be paid reasonable wages in LETS units for administrative
work carried out in agreement with the relevant LETS budget, and
will submit claims on a regular basis to the Committee for approval
before payment is made.
11.6 The committee may establish budgets in LETS units for particular
purposes, and members of the Committee may have access to designated
budget accounts in the system to make such payments.
11.7 No member may be paid in local currency to attend meetings,
unless specifically otherwise authorised by the whole Committee.
11.8 A report of both the Sterling and LETS accounts shall be
presented to Committee meetings, to any member on request,and
an annual statement of both accounts shall be presented at each
12. CHANGES TO THE CONSTITUTION
12.1 Any changes to this constitution can only be actioned after
consultation with LETSlink at national or regional level, which
is to ensure consistency of practice across schemes. If the change
has arisen from a problem arising, LETSlink may, as an alternative
to changing the constitution, may be able to advise on another
way of resolving it.
12.2 A minimum of two-thirds of members present and voting at
an AGM or EGM is required to endorse proposed changes to the constitution.
13. WINDING UP, TRANSFERS, OR MERGERS
13.1 In the case of serious problems arising within the LETS,
such as system failure, reduced levels of trading, or failure
to administer the scheme, any member may seek help from LETSlink,
who will attempt to provide assistance to the organisers in post,
and obtain contact details of all past and current members of
the group. If the difficulties cannot be resolved within the current
committee structure, LETSlink will circulate all members inviting
feedback, and nominations for the various management roles, and
inviting them to attend an EGM.
13.2 Following the EGM, voting papers will be sent to all members
to decide the future of the scheme, such as continuing with the
same structure, or becoming a branch of LETSlink, or winding up
altogether. The scheme can only be wound up by a two thirds majority
vote of members present and voting by ballot.
13.3 If the LETS is to be wound up, those members with accounts
in debit to a significant extent (the amount to be decided by
consensus at the meeting) will be given a reasonable period of
time in which to repay the bulk of their debit to the membership.
Members whose balances are significantly in credit will be identified
and efforts made to assist them in balancing their accounts.
13.4 Alternatively, details of all individual account-holders
and their remaining balances will be transferred by LETSlink to
other schemes of the members' choice, or held in a regional membership
pool, pending a new organisation being established with LETSlink's
13.5 After settling all sterling debts and obligations, any remaining
assets shall be transferred to LETSlink's local regional network, failing
which LETSlink UK, or in the absence of this organisation, to its successor
organisation, failing which another organisation with similar aims.