Leeds University Union Incorporation Briefing for Staff February 2010

Briefing Objectives What are we doing? Incorporation Charity Registration Trading Company Why are we doing it? What does this mean for staff? Work in progress Questions

What are we doing? Transferring our activities to a Company Limited by Guarantee – “ Leeds University Union”. Registering at Companies House with a Company Number. Trustees will be formal Company Directors with details held at Companies House. Registering as a Charity with the Charity Commission – Charity Number. Creating a trading subsidiary – “LUU Services Limited” owned by Leeds University Union to run our commercial activities. Separate Board and Directors. All for go live 1 st August 2010.

Why are we doing this? Leeds University Union is currently an unincorporated association with no legal status of its own. Legal status is currently through the Trustees. All contracts are legally entered into by the Trustees. An unnecessary level of risk as individuals for the Trustees. Incorporation brings added protection to the Trustees but with clear responsibilities as company directors. Charity Commission requirement to register as a charity. Wider funding opportunities as a charity. Trading subsidiary means that we are as tax efficient as we can be. Many Student Unions taking these steps.

What does this mean for you? Generally very little - much of this is going on in the background. Transfer of employment to the new companies – TUPE applies. Already liaising with relevant Trade Unions over this. Will formally notify staff in advance of the transfer Currently planned as a joint employment by both companies as many of us will be working for both. Continuity of employment - as though you were employed by the new companies from the start. Transfer date will be 01 August 2010

Work in progress Awaiting the go ahead for the Charity Registration from the Charity Commission – likely June Preparation to transfer all contracts to the new companies. Legal work and advice on transferring our pensions arrangements. Working closely with the University on legal changes. Registration of the companies and directors. New letterheads. Plaques for the entrance to the building. Changes to Website and s to reflect new legal status. Moving bank accounts over. Letters to Suppliers and Customers.

Questions