Aisling Árann, the organisation, is a registered company. To distinguish it from Aisling Árann as a NETWORK, as a VISION or as a PROJECT in this article we will refer to it as Aisling Árann Teoranta.
Aisling Árann Teoranta was incorporated as AISLING ARANN (THE ARAN PROJECT) on May 15th 1987. By licence of the Minister for Industry and Commerce the word "Limited" or "Teoranta" was omitted. Its registered number is 122032. Aisling Árann Teoranta has charitable status for tax purposes and does not pay corporation tax. The structure of the company is a standard model - limited by guarantee and not having a share capital. It has a Memorandum and Articles of Association drawn up by solicitor Niall O'Hagan of Donal O'Hagan & Co. Dundalk. The Memorandum contains a major part of the initial version of the Pilgrim Constitution. The rest is standard material with customised adjustments and inserts. Registration as a company legally binds Aisling Árann Teoranta in a number of ways. Among its legal obligations are the following:
- Registered Office: The Company must have a registered office. In this office are meant to be: the Register of Members, the Company Seal, the Financial Account Books and the Company's Minutes Book.
- Annual General Meeting: Each year the Company is required to have an Annual General Meeting. At this meeting ordinary business includes the consideration of the accounts, balance sheets, the reports of the Board of Directors and Auditors, the election of Directors in the place of those retiring, the re-appointment of the retiring Auditors and the fixing of the remuneration of the Auditors. All other business is special and requires twenty-one days notice in writing to members outlining the general nature of the business.
- Board of Directors:There can be from five to twenty Directors on the Board. They are elected by registered members each of whom have one vote. Each year one third retire and are eligible for re-election.
- Membership: the Board of Directors controls admittance to membership according to the rules of the company. These rules include adherence to the Memorandum of Association and the payment of an annual membership fee.
- Accounts: Proper books of accounts must be kept, audited annually and presented to each Annual General Meeting for acceptance.