Commentary

28 Power to borrow money

CLUBS vol 7
| Commentary

28 Power to borrow money

| Commentary

28 Power to borrow money

In the absence of a specific power in the rules, the committee of a club has no power to raise money by, for example, issuing debentures charged on the assets of the club1. Any rules empowering such borrowing should be specific and detailed in order to avoid any dispute relating to the extent of the powers2.

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