The following can not be shareholders:
● A person under the age of 18 years (C7.1)
● A person who has been expelled (C18) as a shareholder, unless authorised by special resolution at a general meeting (C7.2)
● An employee of the society (C7.3)
A shareholder shall cease to be a shareholder if:
● They die; or (C17.1)
● In the opinion of the Board they cease to qualify for membership under rule C13 (C17.2)
● They are expelled under rule C18; or
● They withdraw from the Society in writing to the secretary (C17.3)
Expulsion of Shareholders (C18) A shareholder may only be expelled by a special resolution at a special general meeting called by the Board.
Expulsion of a Shareholder occurs if it has been deemed that the TMO rules have been breached in one or more of the following areas by failing to promote equality of opportunity by eliminating… (A2.2):
● And any other conduct that is prohibited by or under the Equalities Act 2010; The TMO will advance equality of opportunity between persons who share a relevant protected characteristic and persons who do not share it; and foster good relations between persons who share a relevant protected characteristic and persons who do not share it.