Charter Provisions Relating to Trustees
Broadly the Trustees are the custodians of the assets of the Trust. However, they do not participate in the actual governance of the Trust. For this they rely upon the Board of Governors.
Article 21G lays down the expectations from the Board of Trustees and the Board of Governors thus: “The total ownership of the assets of the Society lies in the Board of Trustees. However, the Board of Governors shall be the council in charge of the administration of the Society in accordance with the policies of the Trust.”
Article 22A clarifies this further. It says: “The Board of Trustees shall act as the custodian of the Trust and ensure that the properties, assets and the surpluses of the Society are being utilized in accordance with this Charter. However, it shall, ordinarily and except where the situation so warrants, leave the day-to-day governance to the Board of Governors.”
According to Article 21K the total number of Trustees would not be less than seven and more than twelve. And, except for the Life-time Trustees, the tenure of all subsequent trustees was restricted to two years at a time, in the normal course, which is renewable.
Article 21M lays down the composition of the Board of Trustees as follows:
- Two Life-time Trustees. In the event of their death, their nominees, and in the absence of such nomination, the nominee of their heirs or successors.
- Up to five Trustees nominated by Life-Time Trustees
- Up to five Trustees nominated by the Governing Board by a simple majority.