An extraordinary meeting of the Builders Merchant Federation (BMF) is being held tomorrow to seek members’ approval for a change in status to a limited liability organisation.
Currently the BMF is an unincorporated body and the benefits of changing status include favourable tax status, retention of member control, limited liability and corporate body status meaning the BMF can act, sue, be sued and can own property and other assets in its own name without the need for trustees.
The process of change was started at the BMF’s AGM in September when members gave their unanimous approval for the move.
A positive final decision will see a formal application made to the FSA for registration.
