The Trust is governed by three main legal documents which set out the framework for governance and the ability to collect funds.
Note that these documents refer to “Enfield Island Village Residents Association”, which is what the Trust was originally known as.
Articles of Association
Enfield Island Village Trust (EIVT) is a charity and a company limited by guarantee*. In addition to company and charity law, EIVT must comply with its Articles of Association.
Click this link to see the full published documents: Articles of Association
These legal documents spell out the rules that govern EIVT including:
- What the trust is allowed to do
- Who is eligible to be a member and who can vote
- How Trustees are elected and form a board
- How the board must conduct its business
* A company limited by guarantee is a distinct legal entity from its owners and is responsible for its own debts. The personal finances of the company’s guarantors are protected. They will only be responsible for paying company debts up to the amount of their guarantees. It is an often used structure for non-profit organisations. Members of the Trust are required to ‘guarantee’ to contribute £1 towards company debts.
The Rent Charge
When Enfield Island Village was developed from the former Royal Small Arms Factory, a Deed of Rent Charge was created on the land. All property owners within the bounds of the trust land, and the Trust itself are required to agree to it’s terms.
Click here to view the Rent charge
The deed gives EIVT the authority to levy a rent charge on the Island’s residents and use the money collected to manage the common areas of the Island that are not adopted by the local authority.
The deed sets out the rules of how the money can be collected, and what it can be spent on.