The Small Print

Society

Natural Food Store limited is an industrial and provident society registered on 29th May 2007, number 30242 R. The registered office is:7 Balnbrigge Road, Leeds LS6 3AD, but all business operations are conducted from 23 North lane, LS6 3AW. A copy of the society’s rules is available on request from the Society Secretary, Linda Robbins at 7 Bainbrigge Road, Leeds LS6 3AD or by emailing info@naturalfoodstore.coop

Membership

The society is owned by, and accountable to, its members. All members have an equal say based on the principal of one member one vote. Membership is open to all persons and organisations that agree with the aims and objectives of the society. Individuals must be at least 16 years of age to be a member.

Members participate in decision-making at general meetings, elect the board of directors to manage the business and to oversee the work of staff and/or contractors.

Members will be kept informed of the work of the society at the general meetings and via the annual report and accounts, the website, email bulletins and other media, and will also be invited to contribute their views and knowledge.

Shareholding

All shares have a nominal value of £1. The minimum shareholding is £100. You can buy additional shares up to the legal maximum, currently £20,000. The shares are not transferable. The notice period for withdrawals is three months.

The directors have the right to change the notice period for withdrawals or suspend withdrawals either indefinitely or for a fixed period. In the event that more than 10% of the total share capital of the co-operative shall be under notice of withdrawal in any one calendar year the right to withdrawal may be suspended by the Board. Shares will be repaid at the original price.The directors have the right to reduce the amount payable on each share when withdrawn if the auditors of the society certify that there are more liabilities than assets.

Interest

Interest payable on share capital is determined by the board of directors and communicated to members.

Governing law and investor protection

Non-transferable shares in an industrial and provident society are not a specified Investment for the purpose of section 22 of the Financial Services and Markets Act 2000 or a controlled investment within the meaning of Article 14(3) of the Financial Services and Markets Act (financial Promotion) Order 2005. To the best of the knowledge and belief of the directors (who have taken all reasonable care to ensure that such is the case).the information contained in this document is fair, clear and verifiable. If you have any doubt about the contents of this document you are advised to contact a financial adviser with experience of this type of investment. The society is not a member of any investor protection scheme.

Risk

Membership of the society and the purchase of shares should be seen as an investment to own a valued and valuable business, support the aims of the society and a thriving community, not primarily an investment for personal gain or profit. Membership is not suitable for anyone who needs assured income from investments or immediate access to their capital. Although the board of directors will implement prudent management policies, there is always the risk that you could lose some or all of your share capital. In the event of the co-operative ceasing to trade members will be  paid up to a maximum of £1 for each £1 share owned once all the creditors have been paid in full. In the event that the co-operative cannot pay its creditors in full members may lose some or all the value of their shares.

Data protection

By completing the application for membership you consent to the society and our contractors and agents holding personal data about you in accordance with the Data Protection Act 1998. We do not sell or exchange mailing lists.