Time Banks UK Becoming a Society for the Benefit of the Community

1. Time Banks UKBecoming a Society for the Benefit of the Community Legal and Governance Review and agree new set of articles (rules) (see attached) Agree detail required within articles (rules) (see Actions) Handover to Co-ops UK for registration process (via Co-operative Futures) Begin process to a) recruit members b) set-up new Board Co-ops UK legal team to then: 1. Obtain agreement in principle from the Charity Commission 2. Update articles from company limited by guarantee to Industrial and Provident Society 3. Apply for exempt charity status from HMRC

2. Time Banks UKBecoming a Society for the Benefit of the Community Member Engagement and Board Membership Create membership application form Agree and circulate membership recruitment communication Process member applications through Board and start member register New Board Agree 3 founder members who will become new Board by default Board to appoint/co-opt additional Board Members (all will stand down for election at first AGM) 3. Board to agree Company Secretary, Chair and Treasurer 4. Board to define and agree any other appointments 5. Board to update any secondary policies as appropriate

3. Time Banks UKBecoming a Society for the Benefit of the Community Next Action • Review and agree Industrial and Provident Society Rules • Transition Board appoint three Founding Members for new Cooperative. • Forward details required for the Industrial and Provident Society Rules • Agree fee required (£1200 to Co-ops UK legal team for liaison with Charity Commission and FSA for registration and liaison with HMRC to achieve exempt charity status) • Plan membership engagement and enrolment, and election for new Board