Changes To Nature of Trust
On the month of the one year anniversary of academy conversion (May 2012) the directors of the academy annexed the trust’s Articles of Association document making radical amendments to the previous nature of the organisation as a Comprehensive School and a new academy. This resolution greatly increasses the independence and autonomy of the trust and gives the directors greater powers, more in line with those of a conventional business. Some of the main powers include the ability to:
- Form private companies to carry on any trade or business for the purpose of raising funds for the Academy.
- To buy and sell property including existing school buildings and land.
- Offer scholarships to present and former students.
- To raise and borrow money.
- To invest school funds in other companies, private enterprises businesses and other investments.
In addition school property can be held in the name of a nominee private company acting under the control of the directors.
Read more about this topic: Aston Academy
Famous quotes containing the words nature and/or trust:
“It would be one of the greatest triumphs of humanity, one of the most tangible liberations from the constraints of nature to which mankind is subject, if we could succeed in raising the responsible act of procreating children to the level of a deliberate and intentional activity and in freeing it from its entanglement with the necessary satisfaction of a natural need.”
—Sigmund Freud (1856–1939)
“In order for an individual to partake of the world and contribute to it in a healthy way, he first needs to view that world as a basically kind, friendly, and supportive place. Such an outlook begins to be formed during infancy. It’s essential that the baby establish a fundamental trust in his environment. The infant needs to learn that the world is a nurturing place where his needs will be met.”
—Saf Lerman (20th century)