Names

1. The name of the organisation is Manchester LETS, sometimes referred to as “the system” in this Constitution.
   
   
2. The name of our currency is the “em”, written M. 1M is nominally equivalent to £1.

Mission and aims

1. Our mission statement is:
   
   “Our vision is of a mutual credit system that one can exchange goods and services within an alternative currency system that is accessible to everyone without regard to their income, assets or situation, where the barrier to participation are as low as is practical.”
   
   
2. Our aims are:
   
   
   1. To develop the experience of community in and around Manchester, through the establishment of a local exchange trading system.
      
   2. To stimulate the creation of social, environmental and economic benefits.

Membership

1. Membership is to be open to any adult individual or group who live, work, or are educated in Manchester, who agree with the aims and rules of Manchester LETS, within the terms of the Membership Agreement.
2. Membership requires:
   1. the payment of membership fees, renewable annually or otherwise at the discretion of the Core Organising Team; and
   2. acceptance of the Manchester LETS Members’ Agreement.
3. The procedure for termination of membership is laid out in the Members’ Agreement.
4. Manchester LETS follows an equal opportunities policy and does not discriminate on the basis of age, ability, gender, orientation, culture, race or wealth. It is non-sectarian and non-party political and will not affiliate to any party political organisation.

Legal Status

Manchester LETS is an unincorporated members’ club of people willing to trade amongst themselves.

Organisational Structure

1. The rights and authority of Manchester LETS are vested in all members.
2. The Core Organising Team
   1. is responsible for ensuring that the tasks of running Manchester LETS are carried out effectively, and members feel supported in their trading activities;
   2. will always seek to maintain two-way communication with Manchester LETS members, by organising services on request and by communicating information or news which may be of interest;
   3. will aim to maintain the viability of the system, to expand it to every community within Manchester, and to actively outreach to those members of our communities who are normally shut out of conventional monetary exchange.
3. Manchester LETS members can be appointed to the Core Organising Team according to the needs of Manchester LETS. They can be appointed to perform a specific role, such as Treasurer or Webmaster, or as a General Member.
4. Members who are interested in joining the Core Organising Team should contact the team expressing their interest and then meet with team members, where their skills and potential commitment will be explored and written up as a Volunteer Agreement. This Agreement can last for either six months or a year, when at the end of which time their role will be renewed or terminated in agreement with the member.
5. Continuity of efficient administration and regular infusion of “new blood” in the Core Organising Team are both to be encouraged.
6. All current members of the Core Organising Team will present reports on their activity at the AGM, and provide information for a profile on the website. These requirements may be waived at the discretion of the Core Organising Team.
7. The Core Organising Team maintains the smooth running of Manchester LETS in matters of routine administration; they hold no executive power, but enact power in trust on behalf of the membership. Any Core Organising Team member may be dismissed by a three-quarters majority vote of the full Core Organising Team, should their conduct break their Volunteer's Agreement and/or seriously interfere with the principle of smooth running.

Decision-making processes

1. A rotating facilitator will be appointed for all meetings of Manchester LETS, be that AGM, EGM, or General Meetings. The facilitator need not be a member of the Core Organising Team, but it is highly desirable that they have prior experience of, or training in, facilitating meetings.
2. All members will be encouraged to attend Manchester LETS General Meetings, AGMs and EGMs. In order to contribute to decision-making, members must provide their membership name to the facilitator of the meeting.
3. Meetings are to be advertised and open to all. Any Manchester LETS member may attend and speak, and decision-making will be determined by consensus. If consensus cannot be reached, the matter will be referred to a Core Organising Team meeting.
4. General Meetings:
   1. will be held at least monthly at an accessible venue, with details published appropriately in advance;
   2. will include the Manchester LETS AGM which will take place annually;
   3. will have an agenda, drawn up by the Core Organising Team and published to the website, mailing lists and appropriate other forums, to ensure that all matters are discussed;
   4. are fully minuted; copies will be published on the website and other forums as appropriate.
   5. are quorate when three members of the Core Organising Team are present.
5. At the AGM:
   1. Core Organising Team members will report on the previous year’s activity. A financial report will also be presented. These reports will be published in the newsletter and on the website following the AGM;
   2. members will be encouraged to voice their view concerning the next twelve months, and put forward any proposals about the future running of the LETS;
   3. any constitutional amendments will be proposed in a manner decided and publicised by the Core Organising Team in advance, and voted on by the membership
6. An Extraordinary General Meeting (EGM):
   1. will be convened by the Core Organising Team, giving at least seven days’ notice, at the written request of any five or more members of Manchester LETS;
   2. may be attended by any Manchester LETS member, each of whom may vote. Non-members of Manchester LETS may speak but not vote.
7. Difficult or time-consuming matters will be delegated to a Working Party, convened for the specific task and disbanded afterwards.
8. Core Organising Team meetings:
   1. For all Core Organising Team decisions, agreement by consensus is the preferred means of decision-making; voting will be used in the event of a deadlock at the discretion of the facilitator. The mechanism will be one member, one vote and a simple majority will be accepted (except in situations specified in this constitution).
   2. At each meeting, each member will report briefly on activities within their area of responsibility since the last Core Organising Team meeting.

Resolution of disputes and complaints

1. Disputes and complaints that cannot be resolved informally will be dealt with by a Working Party convened by the Core Organising Team. The Core Organising Team holds a confidential permanent file of all formal written complaints. With the permission of the Manchester LETS member who has made a formal complaint, the Core Organising Team may contact the member about whom this has been lodged to offer them the opportunity to provide “their side of the story”, also to be kept permanently on file.
2. In establishing such a Working Party, particular care will be taken that the Working Party is composed of members not directly connected with the issue under discussion.
3. Should the Working Party be unable to resolve the dispute, it should report back to the next Core Organising Team for further discussion/action.

Finance: Sterling

1. Money received will be paid into the Manchester LETS bank account, or held as petty cash up to the sum of normally £50.
2. The Organising Team will decide the three signatories to the account, one of whom will ideally be the Sterling Treasurer.
3. Any member can request an update of the system administration account(s) with 4 weeks’ notice.
4. No member shall derive any sterling financial benefit from the sterling account other than the payment of authorised expenses.
5. No expenditure will be automatically sanctioned without the agreement of the Core Group.

Finance: Ems

1. Ems received through subscriptions/memberships will be paid into the Manchester LETS administration account. This will be used to contribute to administrative costs and the Community Fund, administered at the discretion of the Core Organising Team.
2. Any member can request an update of the system administration account(s) with 4 weeks’ notice.
3. Members can claim payment in ems for administration/development work at an agreed rate.
4. No expenditure will be automatically sanctioned without the agreement of the Organising Team.

Finance: General

1. Manchester LETS is a not-for-profit organisation.
2. Any sterling or em surplus or deficit due to the running costs will be reported at the AGM.
3. The sterling budget will aim to maintain a reserve of three to six months’ running costs.
4. The em budget will aim to balance within the range ±500M.

Changes to the Constitution

1. Changes to the Constitution can only be made at the AGM or at an EGM. Full details of any proposed changes will first be circulated to all members with the AGM notice.
2. The changes will be debated in the General Meeting.
3. Any changes to the Constitution (including the roles of officers) can be made only when at least two-thirds of the Organising Team are in attendance and then by a two-thirds majority vote of the meeting.

Dissolution

1. Manchester LETS can only be wound up after a democratic consultation process. A document will be circulated to all members explaining the circumstances and detailing the time and place of an EGM, four to six weeks later, to discuss ways of enabling the LETS to continue. Members will be encouraged to come forward as volunteers to take over the various administrative roles.
2. Following the EGM, within four weeks a postal/e-mail ballot of the membership will be held to decide the future of Manchester LETS. Manchester LETS will be dissolved if two-thirds of the votes cast call for winding up. The ballot papers and results will be available at a final meeting. Full details must be sent to all members at least fourteen days before this meeting.
3. After settling all debts and obligations, any remaining Manchester LETS assets will be entrusted to ethical organisations to be selected at the final meeting.

Sunset Clause

This Constitution will be accepted on the date below, and will lapse after twelve months unless ratified by an Annual General Meeting open to the entire membership of Manchester LETS according to the rules outlined above.