EIBA-YEARBOOK 2024-2025 Web-Complete - Flipbook - Page 107
4.12 To borrow money and to charge the whole or any part of the property belonging to the
Association as security for repayment of the money borrowed.
4.13 To co-operate with other associations and governing bodies or any other organisations,
bodies corporate or statutory authorities and to exchange information and advice with
them.
4.14 To establish or support any charitable trust, associations or institutions formed for any of
the purposes included in the Objects.
4.15 To acquire, merge with or enter into any partnership or joint venture arrangement with
any other organisation formed for any of the Objects.
4.16 To employ and remunerate such staff as are necessary for carrying out the work of the
Association.
4.17 To:
4.17.1
deposit or invest funds;
4.17.2
employ a professional fund-manager; and
4.17.3
arrange for the investments or other property of the Association to be held in
the name of a nominee;
4.18 To provide indemnity insurance for the members of the Board or any other Officer of the
Association in relation to any such liability as is mentioned in sub-clause 4.18.1 but
subject not any such liability as is specified in sub-clause 4.18.2 (“the excluded
liabilities”).
4.18.1. The liabilities are:
4.18.1.1 any liability that by virtue of any rule of law would otherwise attached to a
director of a Association in respect of any negligence, default, breach of duty
or breach of trust of which he or she may be guilty in relation to the Association;
4.18.1.2 the liability to make a contribution to the Association’s assets as specified in
Section 214 of the Insolvency Act 1986 (wrongful trading).
4.18.2
The excluded liabilities are:
4.18.2.1 fines;
4.18.2.2 costs of unsuccessfully defending criminal prosecutions for offences arising
out of the fraud, dishonesty or wilful or reckless misconduct of a member of
the Board or other Officer;
4.18.2.3 liabilities to the Association that result from conduct that the member of the
Board or other officer knew or must be assumed to have known was not in the
best interest of the Association or about which the person concerned did not
care whether it was in the best interests of the Association or not.
4.18.2.4 any liability to make a contribution where the basis of the Board member’s
liability is his or her knowledge prior to the insolvent liquidation of the
Association (or reckless failure to acquire that knowledge) that there was no
reasonable prospect that the Association would avoid going into insolvent
liquidation.
4.19 To lend or advance money with or without interest and with or without security and to
enter into any form of financial arrangement or guarantee which in the opinion of the
Board is conducive to the attainment of any of these Objects.
4.20 To publish, produce, commission and distribute all kinds of books, pamphlets, brochures,
magazines and other types of literature together with all types of sound or visual
recordings.
4.21 To engage in any other lawful activities as are considered by the Board to be to the
advantage and benefit of the Association or conducive to the attainment of the Objects.
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