The Corporate Trustee is now an option for Clubs, when considering appointment of Trustees of Clubs. The Corporate Trustee is a separate legal entity, a Trust Company, called "Iontaobhas Corparáideach Chumann Lúthchleas Gael cuideachta faoi Theorainn Ráthaíochta" (ICCLG), set up by the GAA. The Trust Company holds the property for and on behalf of the Club.
Clubs can now opt to hold property through the Corporate Trustee. Holding property through the Corporate Trustee does not affect the ownership in any way but can have advantages in the way of continuous amendments to the title is avoided when trustees die or retire. This will save on Legal costs to the Club. This also takes the pressure off individual Trustees and avoids the publishing of names should court proceedings take place.
The Corporate Trustee is optional.
There are three options available to clubs:
Option 1- Clubs may elect to do nothing and to continue to hold Club property through personal Trustees.
Option 2- Clubs may elect to introduce a partial change in that case property is held by a combination of personal trustees and the Corporate Trustee.
Option 3 - Clubs may elect to have property held only through the Corporate Trustee. This is the preferred method of holding association property.
Disadvantages of having Local, County and Provincial Trustees
• Complexity in dealing with Financial Institutes when applying for and drawing down loan funding for club development
• Complications drawing down Sports Capital Grant funding from the department of Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media
• Trustees refusing to co-operate with the directive of the club executive (e.g. Refusing to sign loan or grant agreements, land purchase or disposal, lease/license agreements)
• Death / Incapacity / Retirement of Trustees - Additional legal fees incurred by the club everytime trustees are updated and delays in drawing down grant or loan funding.
• Individual names being published on Judgments and Court Proceedings (Trustees may be required to appear in court on behalf of the club)
Advantages of the Corporate Trustee
• Ease of dealing with financial institutions and the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media when applying for / drawing down loans and grants.
• Continuous amendments to title avoided when trustees die or retire (No legal fees or administrative burden on the club).
• Avoids individual’s names being published on Judgments and Court Proceedings.
• The Corporate Trustee will always act on the directive of the Club (Conflict with trustees avoided).
Adopting the Corporate Trustee
1. The club must call a general meeting to discuss the option of appointing the Corporate Trustee.
2. There must be a signed minute from the club stating the club are appointing the Corporate Trustee.
3. The Template Pack below contains the necessary draft documents to complete the transfer. Please furnish this to the Club Solicitor to assist them with completing the transfer.
The Corporate Trustee only act ‘For and Behalf’ of the Club. They cannot act without instruction from the club.
See attachment below:
- Templates for completing the transition which can be passed on to the club’s solicitor
Any queries, please contact **nationalfinance@gaa.ie**