1.1.3.7 Trading Company Directors

General description

The Cochrane Collaboration Steering Group is the board of directors of The Cochrane Collaboration, a charity registered in the UK on 10 April 1995 (company no. 3044323). The Steering Group sets policy for The Cochrane Collaboration, in consultation with the members of the organisation. On 27 October 1998 a Trading Company was established (company no. 3657122) as a wholly-owned subsidiary of The Cochrane Collaboration, with the primary purpose of receiving the royalties on sales of the Charity’s main output, The Cochrane Library, on behalf of the Charity. The Directors of the Trading Company (of whom there are currently three) hold the following responsibilities:

Responsibilities

1. Attending two meetings of the Trading Company Directors per year, chiefly to monitor the accurate payment of royalties by the publishers, and to ensure that all surplus funds are paid over to The Cochrane Collaboration annually by Gift Aid. Also, to ensure that the Charity’s legal responsibilities are fulfilled and in a timely manner.

2. Communicating any concerns to the Steering Group about the contractual relationship with the publishers, payment of royalties, tax and VAT issues, etc.

3. Checking and signing off on the Annual Report and Financial Statements of the Trading Company, before their distribution to the entities of The Cochrane Collaboration, and acceptance at the Charity’s and Trading Company’s Annual General Meetings.

4. Ensuring the Trading Company Directors are represented at the Annual General Meetings, which are usually held during the annual Cochrane Colloquia.

Accountability

The Trading Company Directors are accountable to the Steering Group.

Qualifications

No specific qualifications are required for being a Trading Company Director; however, these positions have historically been filled by ex-members of the Steering Group who are also ex-Treasurers, because of their relevant knowledge and experience.

Recruitment process

On the resignation of a Trading Company Director, the remaining Directors consider a suitable replacement from among the past members of the Steering Group. If no-one could be identified who would be willing to take on this role, a volunteer would be called for from amongst the contributors to The Cochrane Collaboration.

Term of position

Trading Company Directors have no fixed term of office, but one-third of the Directors resign each year at the Annual General Meeting and can be reappointed.