Our constitution LHP is a charitable Community Benefit Society.

LHP is a charitable Community Benefit Society. This means we have shareholders. Shareholders meet annually and at general meetings. The shareholders appoint the board. How general meetings and the board operate is governed by Rules. Board members act as both directors of the company and shareholders and are subject to common law principles of company law and legislation under the Co-operative and Community Benefit Societies Act 2014.

We are also an exempt charity. The Rules set out the purposes and powers of LHP as an exempt charity which must be complied with. The Board members act as trustees of the charity as well as also being directors of the company. This dual role has largely similar rights and obligations to comply with. Whenever our board acts it must take account of what is best for the beneficiaries of the charity (our tenants primarily) and the long-term interests for the success of the company.

The Rules are the most important document in our constitution. Other documents which sit below the Rules and form part of the constitution are Standing Orders, Terms of Reference for Board and Committees, the Scheme of Delegation to the Executive, Financial Regulations and Procurement (contract) Rules.

We are committed to adhere to policies and work to governance standards. You can read our governance documents and policies which form our Constitution in the Openness and Transparency section.

 

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