The club’s operations have been heavily driven by the Proshare constitution and rules, as defined by the “Proshare investment clubs manual”.
We also define some local rules from time to time to address particular problems or situations. These are normally discussed and elected or cancelled out at the AGM.
For example, at some point in the past, there were issues of meetings not being quorate (not enough members could attend a meeting at any one time); leading to meetings being postponed a few times. Some members were away or unavailable for quite a period: The club introduced the definition of active and passive members. The quorate calculation was revised and based on active members only. This has managed to tackle the problem of quorate meetings.
The Proshare manual was first issued in 1993 and revised in 1997. This pack is comprehensive and has been influential in the success of the UK investment club movement during that period.
Over the early years, Proshare had made amendments and relaxations to the constitution & rules, when wider experience has spread in the UK investment club community (as these surpassed 12,000 clubs during the early 2000s). Some of the relaxation included lifting restrictions on the number of members in a club (previously 20) and also on the amount that could be invested by a member annually. The Proshare pack has only been issued in printed format and as far as we know remained unchanged since (It is no longer available from the Proshare or Proshareclubs institutions).