As the end of 2020 beckons, we take a look at what progress the Sterling market has made in its preparations for the end of the London Interbank Offered Rate (LIBOR) on 31 December 2021.
As you will remember charities promoting sport and physical activity must comply with the Code to be eligible for Sport England funding. We covered this in our e-briefing late last year.
After narrowly failing to pass a special resolution to amend their articles of association to comply with the Code, TTE is unable to draw down the next tranche of the £9 million the charity was due to receive from Sport England between 2017 and 2021. The resolution received support from 74.93% of those voting – falling just 0.07% short of the required threshold. So presumably the charity trustees will be searching to agree on a way forward.
The AGM agenda can be seen here. The explanatory text preceding each Special Resolution gives a sense of the background to the situation. It appears that some members of Table Tennis England feel that the changes proposed by the directors of TTE to comply with the Code would remove ‘control of the sport in this country from the members for the first time in since our formation in 1926’.
This scenario was anticipated in the article referred to above, which observes:
‘The current code requires a proportion of board members to be ‘independent’. That requirement will need to be considered carefully by the many membership charities that are seeking Sport England funding on the basis that they can deliver physical activity and ‘help create a much healthier and more active nation’ as the Government’s strategy for sport Sporting Future envisages. Many membership charities see it as a key part of their identity that trustees are drawn from their membership and some would find it difficult to introduce a requirement to recruit from non-members in the interest of independence. Such organisations will need to be able to justify the approach they adopt and demonstrate how they ensure that trustees are able to avoid group think.’
It will be interesting to see how successful the efforts of the directors to negotiate a compromise prove to be. We hope in the interests of grassroots members – and those who could yet enjoy the benefits of taking up table tennis – that a solution can be brokered soon.
In any event, this is a demonstration of the importance of compliance with the Code. It also highlights the importance to National Governing Bodies and other membership bodies in this sector of identifying a clear strategy for implementing constitutional change, formulating proposals for change with care, and communicating those proposals effectively to their members.
Table Tennis England has issued a statement and Sport England is due to do the same shortly.
Many in the sector will be watching with interest.
Finally, there is a glimmer of hope that perhaps the Covid-19 pandemic could be reaching its end.
For part 2 in this series of short podcasts, Chris Lloyd-Smith interviews senior associate Lisa Whitehouse on how she has been coping during these unprecedented times.
Delayed since Spring 2020 as the Government tackled the Covid-19 crisis, Tuesday 17 November saw the publication of the Social Housing White Paper, setting out the future regulation of the sector
In this ebriefing, we examine how the duty holder regime will apply to social housing providers with existing HRRBs in their housing stock.
Following Katherine's "heads up" last week, the Government has now confirmed that for claim periods post 1 December, employers will not be able to claim for employees who are serving their notice
For part 1 in this series of short podcasts, Chris Lloyd-Smith interviews solicitor Puja Desai on how she has been coping during these unprecedented times.
Over 100 trainees and future trainees from Birmingham joined the BTSS for a webinar to address concerns around training remotely and qualifying during a possible recession.
Anthony Collins Solicitors has supported Birmingham-based Complete Care Holdings in its acquisition of Amegreen Complex Homecare Ltd.
The Guidance for the extended Coronavirus Job Retention Scheme (CJRS) was released last night on 10 November 2020. We thought we knew what we were expecting or so we thought...
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