Date Adopted: June 2023
Date of Next Review: June 2026
This policy sets out the criteria and procedure for the admission of Shareholders.
For more information on the responsibilities of Shareholders and the nature of shares and Shareholders, please refer to Tyne Housing Association Rules.
Tyne Housing Association (THA) is a registered provider of social housing and regulated by The Regulator of Social Housing. THA is a registered society under the Co-operative and Community Benefit Societies Act 2014, Registration No: 21011R. THA has adopted the National Housing Federation’s, (NHF) Model Rules 2017 and the NHF’s Code of Governance 2020. As such, it is incumbent on the Tyne Board to set, review and publish its policy on admittance of Shareholders.
3.0 Tyne’s Policy
Many registered providers of social housing have adopted “closed” memberships, whereby only Board members are shareholders.
THA has adopted a partially closed membership. For several years it has been THA’s policy to admit only board members of Tyne and Ouseburn Farm (OF) into Shareholder membership of the Association.
Any person applying to be a Board member of the Association or OF automatically becomes a shareholder of Tyne if their application is successful. Co-optees will not be shareholding members.
Board members shareholding will be cancelled when they retire or resign from Tyne or OF boards. At time of publication of this policy, Tyne has a small number of residual Shareholders; these memberships will be reviewed annually.
Their shareholding membership will be cancelled if they do not attend in person or appoint a proxy or deliver written apologies in advance of two consecutive Annual General Meetings. This is in accordance with Tyne’s rules.
Applications to become Board members and Shareholders will be invited through an open recruitment process, inviting individuals who can provide a benefit to Tyne or OF and who meet skill sets identified to meet the needs of the organisations.
Applications are welcome regardless of age, disability, gender identity, marital/civil partnership status, lived experience of pregnancy or maternity, race (including ethnicity and nationality), religion or belief, sex or sexual orientation.
This policy will be reviewed every three years or sooner if there are changes to regulation, legislation or the Association’s rules.
Tyne Board has the authority to amend its policy on the admittance of Shareholders at any time.