The Lady Grover’s Fund November 2021 Newsletter is available to view here.
The Society is pleased to welcome new members and will be processing membership applications in the normal way. Membership will not commence until the new Rules take effect which is expected to be 1 January 2022. New members’ attention is drawn to the Society’s Discretionary Mutual Model which is extracted from its recent Prospectus.
Over 30 members attended the SGM and will know that there was a substantial vote in favour of the Society’s proposal to incorporate and offer benefits on a discretionary basis. We undertook to count all votes posted prior to the SGM and allow a further 7 days for their receipt. We can now announce that 797 members voted FOR the SGM resolution and 29 AGAINST. Accordingly, the Society is proceeding to register the Memorandum and new Rules. We noted at the SGM that a few members had gained the impression that we might be intending to means test the benefits that we pay. We would assure our members that we […]
We will not be processing new applications to join the Society until after the SGM on 26 October 2021 and only then if the resolution to become a discretionary mutual is approved. If the resolution is approved, applications to become a member will be processed from 27 October 2021 and new members will be admitted and payment taken from 1 January 2022 when the new Rules take effect.
The Society will be holding an SGM via Zoom on October 26 at 2pm to decide on the future of Lady Grover’s Fund. You can find out more by referring to the Covering Letter, Prospectus and SGM Notice and Voting Form. Members will be asked to vote on whether to adopt the new Memorandum and Rules, as well as the proposed changes outlined in the Prospectus. You can vote by attending the SGM or you can e-mail or post your vote to us by Saturday 23 October. Details on how to do this can be found in the SGM Notice and Voting Form. Large print versions are available showing the […]
Here are the new Memorandum and Rules proposed for Lady Grover’s Fund, a letter to members will follow.
Minutes from the Lady Grover’s Fund 96th Annual General Meeting are available to view here.
The Lady Grover’s Fund May 2021 Newsletter is available to view here.
Introduction Lady Grover’s Fund (”LGF”) is a Friendly Society authorised to provide health insurance. As such it is regulated by the Prudential Regulatory Authority (“PRA”) and the Financial Conduct Authority (“FCA”). It is run by an elected Committee (all volunteers) and employs a paid Chief Executive. Member Services including claims administration are provided by a trading subsidiary of the Officers Association (“OA”). The OA is a Charity, but not its subsidiary. In December 2020, we wrote to members outlining our proposal to rewrite the constitution and rules of LGF – it would still be Friendly Society, but the provision of claim benefits would be subject to Committee discretion. Members would […]
The Committee of Management (Board) is accountable to the members of Lady Grover’s Fund (LGF) and UK Regulators for the operation of LGF and regards good corporate governance as fundamental to this responsibility. The Board confirms that this report together with LGF’s annual report and financial statements (available from LGF on request) present a fair, balanced and understandable view of LGF, providing sufficient information for members to assess LGF’s performance, business model and strategy. LGF follows the AFM Corporate Governance Code issued in January 2019. This code, which focusses on culture within the organisation and stakeholder engagement, sets out Principles of Best Practice to be adopted on a comply and […]