Every Community Benefit Society must have ‘objects’ which describe the reason why the Society has been set up and Rules which explain how the Society will be run and managed. You can view and download LiveWire Community Energy Limited’s Rules. There are a number of key principles on which the Society was established which are as follows:

• One Member One Vote:It will be owned and democratically controlled by its members on the basis of one member one vote irrespective of the number of shares held
• Not for profit: any surplus is reinvested for the benefit of the local community
• Statutory asset lock which will prohibit the distribution of its assets to members in the event of winding up. After outstanding debts have been paid members will be repaid up to the value of their shares. Any remaining assets will be transferred to an asset locked body such as a Community Benefit Society, charity or Community Interest Company.

A fully copy of the Co-operative and Community Benefit Societies Act 2014 Rules of LiveWire Community Energy Limited is available for download.