Gaian Times: Legal status, Aims & Objectives explained
Gaian Times is Registered as not-for-profit company, Limited by guarantee. Registered in England & Wales. No: 07515903. Exempt from use of `Ltd’ . Incorporation date: 3rd Feb’2011.
What does it mean?
Gaian Times is a registered Company – so is governed by the Company laws of the United Kingdon. It must file annual returns to Company House (Government body) stating who are the current Directors & Secretaries, and the official registered Office of the Company. It must also submit annual accounts to the government. Also Gaian Times submitted an Article of Association which has the `rules’ by which it must function. This can be downloaded from the Company House website. Note: Currently Gaian Times has 1 Director (Manivannan Navasothy, who is also the founder/ Chief Editor).
Registered not for profit means, that Director, Trustee or any other Officers/ Employers of Gaian Times can NOT benefit from any financial profits of the Company. So any profits made by Gaian Times must be put back into the Company for furthering its Aims & Objectives set in the Objects. In the event of Gaian Times winding down, any assets & money left must be given to other Charitable Companies of a similar nature or to Charity. (Note: As a Company, Gaian Times may hire people or employ people and pay them wages – just like any other Charitable Organisations do