This company pre dates the Charity and it would be helpful if I gave a little background information.
I have detailed elsewhere an account of our locomotive and if you have read that account you will know that the locomotive was acquired in a partly restored state. It was decided by those involved at the time to advertise the proposed purchase of the loco in Steam at Llangollen to see if enough people could be persuaded to join forces in the purchase. There was introduced a share purchase scheme of £300 per share cash or £30 per month for three years. Sufficient people were interested so the purchase went ahead. In the interest of the members it was necessary to legalise our relationship with the locomotive. At that time we were of doubtful legal entity and we had protect our ''shareholders''. After seeking legal advice 80072 Steam Locomotive Company Ltd was set up. At the time there was a proposal to reduce the cost of the shares to £150 each in anticipation of that motion being carried the cost per share, on formation of the company, was set at £150. As it happened the motion was not carried but it was decided that on initial purchase it was necessary to buy two shares for £300 cash or £30 per month for three years. Thereafter shares can be purchased for £150 and the instalment procedures have been altered so that you can now pay £5 per month for 6 years.
It is 80072 Steam Locomotive Company Ltd that owns the locomotive and by buying a share you can say then you own a steam locomotive and you will have a share certificate to prove it. The registered charity is also a shareholder in the locomotive but its shares carry different voting powers -- one million votes per share to be precise -- so that under this system you can say that you own a steam locomotive and that the project as a whole has the benefits of Charitable status.
The share purchase scheme carries with it a chance to drive the locomotive (under supervision -- on the assumption that you are not a qualified driver). More details can be obtained from the project manager Peter Evans firstname.lastname@example.org if you have problems getting hold of Peter then e-mail me at email@example.com .
How to Join the Charity.
If you are interested in joining the Charity you need to e-mail me at firstname.lastname@example.org for a membership form. I will e-mail an electronic version. You will have to sign the form therefore it will have to come back to me snail mail. The annual sub is £8.00 but you can become a life member for £250. With us being a registered Charity we are able to reclaim tax on payments made if they are made under the gift aid scheme. This is particularly beneficial in the case of life memberships. There used to be the Deed of Covenant scheme but recent changes to the Gift Aid scheme have made these redundant. In addition HMRC are particularly keen that I should use their approved forms and provide you with full details so that I can reclaim the tax that you have paid on the contribution you make. If you want to know more about how Charities work to help us go to Charitable Giving.
The benefits of membership are as follows:-
Organise regular trips for members behind 80072 with meetings at Llangollen and perhaps elsewhere
Issue membership cards to all members
Produce an attractive and lively magazine, to which all members are invited to contribute
Ensure that members have access to and the opportunity to be involved in the locomotive in every possible way
Enable members who wish to work on the restoration and maintenance of the locomotive and to train for foot plate duties on it and other engines
Make it possible for those who wish to have foot plate rides
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How to help
You can help by becoming a member of the Charity or buying a share in the locomotive or both.