Society Rules
The Society has a set of Rules, approved by its members. These serve as the Society's constitution and are a mechanism which ensures how the affairs of the Society are conducted on behalf of its members.
The Rules set out the Society’s powers and purpose, the remit of the Board, who can be members, who can be directors, rules over the distribution of its profits (referred to as trading surplus), how members’ meetings are conducted, and how other matters should be dealt with.
In brief, they provide the governance framework that enables the Society to operate withing on a day to day basis, and act as the foundation for the Society.
Rule changes with effect from 26 January 2026
In November 2025, members agreed a number of changes to the Society rules to enable the transfer of engagements of Midcounties Co-operative into Central Co-op and during a transitional governance period. These rule changes came into effect on 26 January 2026.
The key changes to the Rule Book include:
- Supporting the Society’s commitment to following co-operative governance best practice by providing for a governance review to be undertaken by January 2027.
- Providing for the postponement of Board elections until after the completion of the governance review.
- Changing the composition of the Board to allow for 7 Directors to be appointed by Midcounties Co-operative.
- Providing for transitional arrangements to ensure continuity in the appointment of a President and Vice-President.
- Providing greater flexibility of the rates of interest payable on member capital and the terms of such investments.
- Strengthening the Board’s accountability to the members to ensure that any major transactions recommended by the Board require the approval of the members.
Click on the below to read the Society rules in full in full:
Society Rules (updated Jan 2026)