From Mr A. R. Cox, MRPharmS
SIR-It has been announced that the Council of the Society has approved proposals to alter the Byelaws concerning funds and properties of the Society (PJ, November 4, p702). This amendment will allow the Society to utilise up to £2m for the laudable aim of developing its commercial activites. It is pleasing to see any activity which may help the Society grapple with its financial problems. However, this year saw the Society enter a contract to purchase property for the sum of £600,000 without the Council being asked to confirm and agree that contracts should be exchanged. This led to the Secretary and Registrar apologising to the Council for this incident (PJ, April 15, p578). More recently a Privy Council appointee to Council has described the Society’s finances as "verging on quite serious financial disarray" (PJ, August 12, p227). Therefore, before these amendments to the Byelaws are enacted, it is imperative that the Society’s membership and the Lords of the Privy Council are given assurances that robust and auditable mechanisms have been put in place to ensure that the Council is fully informed and consulted. Any financial decisions of this magnitude must be made by democratically accountable members of Council and should not be merely rubber-stamped by the Council following a commitment to purchase made by any other group at the Society.
Anthony Cox
Sutton Coldfield, West Midlands