Many BID companies have the powers to gamble levy funds on the stock market.
Do you really want to give BID company Directors carte blanche power to gamble your levy money on the stock market as they feel fit?
That’s exactly what the Articles of Association of some BID companies provide them the power to do, without referring to levy payers. Would you be happy with this without being told before voting in a BID? Check the Articles of Association for your own BID company on this matter.
This is just one example of the expansive “no questions asked” powers levy payers give a BID company so they don’t need to seek levy payers approval on how they operate as a private company.
Minehead BID Articles of Association, ‘POWERS'
