The Upper Clutha Recycling and Environmental Society has morphed into the Friends of Wanaka Wastebusters Society – welcome to Tim Wardell, Jo McArthur, Sarah Wadsworth, Rachel Brown (chair), Dom Stayne and Maggie Lawton who will be the new executive committee for the society. Some of them can remember when Wastebusters looked like this!
The former executive committee (except Dom) will become the Board of Directors for Wanaka Wastebusters Ltd – Russell McGeorge (chair), Barbara Chinn, Caroline Harker, Peter Robinson and Sally Battson.
The structure seems a bit complicated, but it’s not too bad once you get your head around it. Wanaka Wastebusters is now a company – Wanaka Wastebusters Ltd. The Board of Directors oversee the company. The Friends of Wanaka Wastebusters (the incorporated society) own all the shares in the company. Anyone can join the Friends of Wanaka Wastebusters for $1 per year.
Phew, it’s hard to explain, but what it comes down to is this: Wanaka Wastebusters is still owned by our members, and nothing will change in the way we operate our shop, recycling and education projects.
If you’d like to become a member, email firstname.lastname@example.org or talk to the ladies in the shop when you come in next.
The need for change was driven by the outdated incorporated society 1908 law which exposes the executive committee of an incorporated society to financial risk. Given the scale of Wastebusters operation, it seemed sensible to make Wastebusters into a company with a Board of Directors.
Thanks to everyone who has seen Wastebusters through these changes and put in a lot of hard work to find the structure that best suits, especially Russell, Dom and Sue. As social enterprise becomes more established in New Zealand, legal structures will develop and it will be simpler for community enterprises like ours to find an ownership model that suits.