Community Exchange Systems Ltd is a not-for-profit company registered under Section 21 of the Companies Act of South Africa.
For many years the CES was not formally constituted and in an effort to remedy the situation Community Exchange Systems Ltd was registered in October 2008. The reasons for registering the Company include:
- To provide a clearer method of decision-making.
- To provide a clearer method of incorporating existing and new exchanges into the CES community.
- To provide for the appointment of a Registrar to act as the chief administrative officer of the CES and as the link between the CES and individual exchanges. The Registrar also performs certain functions in terms of any charter or other agreement with individual exchanges that may be adopted.
- To provide for the involvement of a wider group of people as members of the new Company who will in turn be responsible for the election of directors and for approving major decisions.
- To provide for continuity in the absence of the original developers and administrators.
- To provide for the formal consent by the systems developer for the Company and individual exchanges to use the systems.
- To provide clear administrative procedures provided by the Companies Act in place of an unwieldy constitution.
The first directors of the company are Tim Jenkin, a co-founder of CES, chief programmer, administrator and Ashoka Fellow; Don Northcott, a founder member and early chairman of the Cape Town Talent Exchange (CTTE) – out of which the CES grew; Dawn Pilatowicz, top trader and membership administrator of the CTTE; and Ken Meek, a member of the CTTE from inception, a top-ten trader and legal advisor to the CES. There are a number of additional guarantor members, all active traders in the CES community.