MAID MARIAN LOCOMOTIVE FUND RULES

(Including all revisions September 2021)

  1. NAME

    The name of the association shall be the "Maid Marian Locomotive Fund" hereinafter referred to as the Fund.


  2. OBJECTS

    The objects for which the Fund is established are as follows:

    1. to preserve and maintain in good working order the two-foot gauge 0 - 4 - 0 steam saddle tank locomotive "MAID MARIAN" number 822 built by the Hunslet Engine Company of Leeds in 1903;
    2. to make the locomotive available on temporary or permanent loan for operational or other purposes to such railway and on such conditions as shall be agreed from time to time;
    3. to protect the interests of those persons having subscribed to the Fund.

  3. MEMBERSHIP

    1. Membership of the Fund shall be restricted to Subscribers and Honorary Members as defined in b. and c. below;
    2. a SUBSCRIBER shall be a person who:
      1. had subscribed to the Fund before 1 January 1969 an amount of not less than £1, each whole pound being one unit of subscription; OR
      2. has subscribed since 1 April 1993 to at least one unit of subscription, the price of the unit to be determined by the Trustees; OR
      3. has had voting rights of another subscriber transferred under Rule 13; OR
      4. was an annual member on 31 July 1992 and is deemed to hold one subscription unit.
    3. HONORARY members may be appointed from time to time for services rendered to the Fund. Such members shall be known as Honorary Members and they shall be appointed at the AGM.
    4. The maximum holding of any one Subscriber shall be 15% of the total number of votes held at the time of the request to purchase, or transfer, any further voting rights. The Trustees shall be empowered to refuse to accept subscriptions from any individual(s) whom they feel may act contrary to the spirit of the Rules of the Fund.

  4. ANNUAL GENERAL MEETING

    1. The policy of the Fund shall be agreed at the AGM and shall be carried out by the Management Committee elected in accordance with Rule 5 and in accordance with Rule 6a.
    2. The AGM shall be held in September or October each year and the reports by the officials of the Fund together with the audited accounts shall be presented at the meeting.
    3. The meeting shall be held at such place as the Trustees shall decide each year.
    4. For the purposes of the AGM 10% of the voting strength shall constitute a quorum.

  5. OFFICERS OF THE FUND

    The Fund shall have the following officers: President, Chairman, Treasurer and Secretary, all of whom shall be appointed at the AGM.


  6. MANAGEMENT OF THE FUND

    1. The management of the Fund shall be carried out by a Management Committee appointed each year at the AGM for such purpose.
    2. The Management Committee shall consist of:
      1. the appointed officers of the Fund and
      2. up to 2 additional members to be elected at the AGM.
    3. The Committee shall have the power to co-opt additional members to the Committee as is considered necessary by the members of the Committee from time to time. Such co-opted members shall remain in the Committee until the following AGM when they shall stand down.
    4. The Committee shall have the power to enter into any contract on behalf of the Fund.
    5. The Committee shall meet as often as is considered necessary.
    6. The control and operation of "MAID MARIAN" shall be agreed between the Committee and the duly authorised representative of the railway on which the locomotive is to be used.
    7. The Committee shall be free to use the finances of the Fund in any way they consider suitable for the purposes of increasing the assets of the Fund.
    8. The Committee shall be free to fill any vacancy which may occur during the year.
    9. At any meeting of the Committee 4 members shall constitute a quorum.
    10. The Fund will abide by any Code of Practice or Conduct that the Heritage Railway Association or its successors in title might publish and might apply to the Fund.

  7. TRUSTEES OF THE FUND

    The Trustees of the Fund shall be the 4 officers of the Fund as elected annually, viz. President, Chairman, Secretary and Treasurer.


  8. PROPERTY OF THE FUND

    The property of the Fund shall be held in the name of the 4 Trustees appointed for that purpose.


  9. INDEPENDENT EXAMINER

    The Independent Examiner should be a person considered suitable to the Trustees and approved of by the Subscribers at the AGM.


  10. NOTICE OF MOTIONS

    1. Notice of motions for the AGM shall be sent to the Secretary of the Fund to be received no later than 14 days before the AGM.
    2. Nominations for Officers of the Fund shall be on appropriate forms and shall bear the signature / s of the nominees to the effect that they are prepared to serve in the capacity for which they are nominated. Such nominations shall be sent by post to the Secretary of the Fund no later than 14 days before the meeting.

  11. SPECIAL GENERAL MEETING

    A Special General Meeting of the Fund may be convened EITHER:

    1. on receipt by the Secretary of the Fund of a requisition in writing by no less than 10 subscribers to the Fund, stating the object of the request and the terms of the motion. A list of subscribers shall be made available to any subscriber on receipt by the Treasurer of such a request; OR
    2. by the Committee.

    Any such meeting shall be arranged as soon as practicable following the request but in any case not exceeding 30 days.


  12. VOTING

    1. Each subscriber shall be entitled to 2 votes for each subscription unit to the Fund and a record of each subscriber's voting powers shall be held by the Chairman, Secretary and Treasurer of the Fund.
    2. Honorary members shall be entitled to one vote at all meetings of the Fund.
    3. Voting at all meetings of the Fund except the Committee meetings shall be based on the number of votes held by each person voting and Subscribers shall be allowed to vote by proxy if they so wish.
    4. Voting at all Committee meetings shall be on the basis of one vote per person.
    5. Voting in all cases except that referred to in Rule 17 shall be on the basis of a simple majority.

  13. TRANSFER OF VOTING RIGHTS

    Any Subscriber shall be allowed to transfer his / her subscription and voting rights to another person in its entirety subject to the notifying of the Secretary of the Fund to this effect. Such Subscriber effecting the transfer shall hereafter forfeit rights previously held by virtue of his / her subscription and shall consequently return to the Secretary of the Fund the appropriate membership card and shall no longer be deemed to be a Subscriber to the Fund.


  14. FINANCE

    1. The financial year of the Fund shall end on 31 March and the Treasurer shall present the appropriate accounts duly audited by the Independent Examiner elected at the AGM.
    2. All monies belonging to the Fund shall be paid into an account or accounts in the name of the Fund.
    3. Cheques for withdrawal from the Fund's account / s shall be signed by any 2 of the 4 Trustees of the Fund, viz. President, Chairman, Secretary or Treasurer.

  15. PROGRESS REPORTS

    1. Progress reports shall be issued at such times as the Committee shall agree.
    2. All Subscribers and Honorary Members shall be entitled to receive free of charge copies of Progress Reports, agendas of general meetings of the Fund and any other reports which are considered appropriate.

  16. TERMINATION OF SUBSCRIPTION

    The Committee shall be entitled to suspend from membership any Subscriber or Honorary Member who, in their opinion, acts contrary to the interest or is in breach of the Rules of the Fund, subject to a right of appeal by that Subscriber or member of the Fund at an AGM or SGM.


  17. ALTERATIONS AND AMENDMENTS TO THE RULES

    These rules may be rescinded altered or varied and new Rules made only with the agreement of two-thirds of the voting strength of the Fund present either at an AGM or a Special General Meeting or by the agreement of two-thirds received if by postal ballot, votes by proxy being included.


  18. TERMINATION OF THE FUND

    If it appears to the Committee of the Fund after consultation with the Subscribers and Honorary Members that the Fund shall be dissolved or otherwise disbanded, "MAID MARIAN" shall be put on temporary or permanent loan by the Heritage Railway Association or any successor in title to a suitable museum or home chosen in the spirit of these Rules, any assets of the Fund being used for the continued preservation of the locomotive in such condition as the assets will allow and the Heritage Railway Association or any successor in title shall have full power in this matter.

    11th September 2021

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