Shareholders and Company Management
Shareholders
People join our community by buying shares in Mandala Pty Ltd. They are available only by purchase from departing shareholders. The shareholding are limited to fifteen, each of two ordinary shares. Mandala Pty Ltd grants every shareholding a 'Licence to Occupy' attached to a redeemable preference share, which gives the right to occupy and develop one hectare of land for personal use. Houses and other improvements on the homesites belong to the shareholder/occupiers. Homesites cover 15 of our 112 hectares.
Shares, houses and other improvements are transferred at a price negotiated between the departing and incoming shareholders. The company may refuse any proposed share transfer.
Each shareholder/occupier pays to the company a levy for company expenses, a levy to provide funds for new facilities and equipment and their share of council rates, including rates levied on each homesite. In March 2024, these charges are approximately $640.00 per quarter.
Company Management
Mandala's company responsibilities, common land, assets and money are administered by a Management Committee, in effect a board of directors, which consists of all shareholders. It meets monthly and only those who attend have a vote. (We change our two 'official' directors by lot at each annual general meeting and grant them no executive power)
Management Committee meetings mostly attempt to reach consensus (by various methods) on important matters, but decision may be made by majority vote. The committee may delegate tasks and responsibilities to individual shareholders. From time to time a shareholder may volunteer to organise a working bee. A few members take on vital jobs, such as company secretary, for a small honorarium.
Please click on the links below if you would like to download a copy of Mandala's By-Laws or Guidelines for renters