London Hackspace Ltd.'s ultimate governance lies with the Board of Trustees. These are elected regularly, with the longest-serving third of the Board required to stand for re-election every year.
|Andy "Bob" Brockhurst||b3cft||2010-07-27|
All UK companies must have have a board of trustees, but trusteeship of London Hackspace Ltd. is primarily a symbolic role. We want trustees to simply make sure that the company is doing what its members want.
However, there are a couple of cases where trustees are personally liable for the company's actions or debts. The most relevant cases are:
- Trading while insolvent: if the company takes credit while unable to pay its existing creditors.
- Trading outside of the objects of the company: if the company trades outside its objects, as specified in the constitution ("To promote and support science, engineering, and art.")
- Liability for injury to members/public due to the company neglecting its duty of care.