Settle Hydro: The Society
Co-operative and Community Benefit Societies Act 2014"
Settle Hydro is owned by Settle Hydro Limited, a registered society under the Co-operative and Community Benefit Societies Act 2014.
The Society is managed by a group of voluntary Directors who are appointed by the Society's Members (Shareholders) at Annual General Meetings.
Membership of the Society is open to any person, organisation or business that meets the requirements of the Society's Rules and invests at least £250 in the Society's shares.
Each Member has one vote at General Meetings irrespective of the number of shares they own.
Any money earned by the Society after payment of overheads (rent, rates, lease, professional fees, etc.) is distributed to local community organisations as determined by the Members. A proportion of any money earned can also, at the discretion of the Members, be paid to the Members as Interest on their investment.
The Society is registered with the Financial Conduct Authority (FCA) who are responsible for approving the Rules by which the Society is run.