Less than two weeks after Madeleine McCann disappeared, the family and friends of the McCann family set up a company called Madeleine’s Fund: Leaving No Stone Unturned Limited. Without properly setting clear objectives and policies from the start, the company was set to become the vehicle for the “official” find Madeleine campaign—whatever that actually meant.
It has become a typically British thing to have financial campaigns to assist people in well publicised times of need. Usually there is no specific company set up to do this. In this respect, the “Madeleine Fund” seemed far too sophisticated and if anything it appears to have been premeditated.
British banks are past masters of setting up and administering bank accounts for needy causes and tend to do so without intervention by outsiders. What made the Madeleine Fund and subsequent campaign so distasteful to many is that little of the money has been used for its stated purpose.
Madeleine’s Fund: Leaving No Stone Unturned Limited is a type of company called a “Private Company Limited by Guarantee”. A company limited by guarantee is an alternative type of incorporation used primarily for non-profit organisations that require corporate status. A guarantee company does not have a share capital, but has members who are guarantors instead of shareholders. The guarantors give an undertaking to contribute a nominal amount towards the winding up of the company in the event of a shortfall upon cessation of business. It cannot distribute its profits to its members, and is therefore eligible to apply for charitable status if necessary.
The company has several ............... " MB:leia mais.