[LACTTE] Re: [Linux-aus] Re: Financial information in public committee minutes

Michael Still mikal at stillhq.com
Wed Jun 16 19:20:01 UTC 2004

Del wrote:

> I have a very small concern, after having a look at the difference
> in members' liabilities between, say, an incorporated association,
> and a company limited by guarantee, that individual members of LA
> are potentially liable for a portion of the debts of the association
> should the association itself be unable to pay those debts.  That's
> on the understanding that I have that LA is an association incorporated
> in NSW, and mostly concerns the members outside of NSW.  I may be
> wrong in that understanding but that's what I read in the LA
> documents last time I checked up.

We are an association incorporated in NSW. I am not a lawyer, so I 
cannot comment specifically on liability issues.

> Therefore I'd like the opportunity to be given for the members to
> have the understanding that the association will be able to meet
> whatever its debts may be, not just for the committee to have that
> understanding.

Which is fair enough, although I would be surprised if you were liable 
for debts you have no part in incurring, I would think it would be more 
likely that the board members would be personally liable. I feel it's 
not my place to be specific about finances, as I am not the Treasurer, 
but feel that I can say that LA has significantly more money in the 
coffers that the ComputerBank grant can possibly consume.

> If a full statement of accounts is planned to be forthcoming at
> LCA next year, then I'm happy to wait for that.

They are presented in full at the AGM. That was at LCA this year, but 
there is no requirement for it to be at LCA next year (as we can now 
have online elections).



Michael Still (mikal at stillhq.com) | "All my life I've had one dream,
http://www.stillhq.com            |  to achieve my many goals"
UTC + 10                          |    -- Homer Simpson

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