Rules of Lloyd’s Yacht Club as adopted by the Club at its Annual General Meeting on 1 April 2026

  1. The Name
    The name of the Club is Lloyd’s Yacht Club.
  1. The objects of the Club

2.1  The objects of the Club are to enable yachting and sailing activities within Lloyd’s, the London insurance market, and the wider insurance community. In particular, the Club seeks to provide sailing opportunities to younger people who would otherwise not be able to participate in the sport. The Club may own, charter, operate, maintain and insure vessels, organise sailing, social, educational and charitable events and activities connected with the Club, provide merchandise and other ancillary activities in support of the Club’s objects. The Club may carry out such other purposes consistent with these objects as the Committee shall determine in good faith to be in the interests of the Club.

2.2  The Club is not-for-profit: subscriptions and other income shall be applied to the administration, operation and governance of the Club in accordance with these objects.

  1. Qualification for Membership

Membership of the Club shall be open to:

3.1  Members of Lloyd’s.

3.2  Any person holding, or entitled to hold, a Lloyd’s pass.

3.3  Employees of the Corporation of Lloyd’s or of Syndicates, companies or firms conducting or connected with insurance business at Lloyd’s or in the wider London insurance market.

3.4  Family Members being the spouse, partner, or child under the age of eighteen of a Full Member upon the application of that Full Member

3.5  Any other person approved by the Committee of the Club.

All applicants shall be proposed and seconded by Members of the Club.

  1. Categories of Membership

Membership of the Club shall consist of the following categories:

4.1  Full Members: individuals who have reached the age of eighteen and been proposed and seconded by Members of the Club; Honorary and Life Members will also be Full Members.

4.2  Family Members.

4.3  Honorary Members: individuals may be elected by the Club as Honorary Members on the recommendation of the Committee.

4.4  Life Members: individuals who have been Full Members for thirty consecutive years and who have reached the age of seventy will be entitled to Life Membership of the Club

4.4  Ex Officio Members

4.5  Temporary Members

  1. Rights and restrictions of Members

5.1  Full Members shall be entitled to use all facilities of the Club, receive notice of all General Meetings, and exercise a single vote on all Club matters.

5.2  Family Members shall be entitled to use such facilities of the Club as the Committee may determine from time to time. Family Members do not have voting rights, they may not introduce other guests or acquire any interest in the assets or property of the Club, and they may not hold office in the Club. Family membership will only endure while the relevant Full Member continues to be a Member of the Club and the Family Member satisfies the relevant criteria. If a Family Member ceases to satisfy the criteria for Family Membership, that person may become a Full Member upon payment of the applicable annual subscription; no joining fee will be due.

5.3  Ex-officio Members shall not be required to pay any entrance fee or subscription and shall not, in their capacity as such, be entitled to any share or interest in the assets of the Club or to vote upon Club matters but otherwise shall have all the rights and privileges enjoyed by Full Members. Ex Officio Members may also be Full Members upon payment of the relevant entrance fee and subscription and continued compliance with these Rules.

5.4  Temporary Members

5.4.1  Any non-Member sailing on a vessel operated under the auspices of the Club, including Lutine, other than as part of a commercial charter will become a Temporary Member of Lloyd’s Yacht Club in accordance with the booking terms and conditions and will be bound by these Rules and any protocols or procedures made under them. Such Temporary Membership is intended to take effect for the purposes of insurance, conduct and compliance with Club Rules

5.4.2  Temporary Members are not required to pay an entrance fee or annual subscription but will acquire no rights or privileges of membership including, but not limited to, the right to vote or to acquire any interest in the assets or property of the Club.

5.4.3  Temporary Membership will commence 48 hours before embarkation and end when the Temporary Member leaves the relevant event.

5.4.4  Hosting Members are responsible for their guest and must make the guest aware of and ensure compliance with Club Rules, protocols, and procedures.

5.4.5  Any breach of the Rules by a Temporary Member may be regarded as also having been committed by any Member of whom that Temporary Member is a guest. Disciplinary action may be taken against the Temporary Member, the hosting Member or both.

5.4.6  The Club or Committee may revoke Temporary Membership at any time in the interests of good order, safety, conduct or non-compliance with the Club Rules. Such revocation may occur without notice and without having to provide reasons.

5.4.7  To the extent permitted by law, the Club accepts no liability for any loss, damage or injury incurred by Temporary Members other than for death or personal injury caused by negligence

5.4.8  In consideration of the granting of Temporary Membership, the Temporary Member:

5.4.8.1  agrees that the Club may hold and process all personal data in accordance with the Club’s Privacy Policy.

5.4.8.2  accepts that it is a condition of participation in any event, organised, wholly or in part, by or under the auspices of Lloyd’s Yacht Club, that participation is entirely at the risk of each participant.

  1. Admission of Members

6.1  Applicants for Full membership may be elected at any quorate meeting of the Committee. Honorary Members may be elected by the Club in general meeting. Life, Family, Ex Officio and Temporary membership will take effect on satisfaction of the relevant criteria.

6.2  The Honorary Secretary shall notify successful applicants and make him/her aware of these Rules.

6.3  Any newly elected Member who is required to pay an entrance fee and subscription but fails to do so within six weeks after his/her notification of election shall automatically cease to be a Member.

6.4  The Committee may refuse any application for membership without giving reasons.

  1. Retirement
    Any Member who wishes to resign must notify the Honorary Secretary on or before the 31st December, failing which the next year’s subscription shall be payable.
  1. Bankruptcy
    Any Member who has been adjudicated bankrupt shall automatically cease to be a Member subject to the Committee’s discretion to reinstate.
  1. Discipline

9.1  Members must comply with these Rules and any protocols, procedures or policies adopted under them.

9.2  The Committee may take disciplinary action against a Member where it considers, in good faith, that the Member has breached these Rules or acted in a manner that is, or may be, prejudicial to the interests, safety, governance or reputation of the Club.

9.3  Disciplinary action shall be conducted in accordance with a procedure adopted by the Committee which must provide notice of the matters complained of and allow a reasonable opportunity to respond. If there is a conflict between this Rule and the disciplinary procedure, this Rule shall prevail

9.4  Disciplinary action may include, without limitation, warnings, reprimands, restrictions on participation in Club activities, temporary suspension of membership or permanent expulsion from the Club.

9.5  Complaints and reports made in good faith pursuant to this Rule shall be treated as confidential and shall not give rise to any claim against the Club, the Committee or any person participating.

9.6  No disciplinary decision shall be invalidated solely because of any procedural irregularity that, in the Committee’s opinion, has not caused substantial injustice.

9.7  No person shall incur personal liability for any decision taken or action carried out in good faith in the exercise of the disciplinary powers under these Rules.

9.8  Subject to these Rules and applicable law, the Committee’s decision on any disciplinary matter is final.

  1. Entrance Fee and Subscription

10.1  Entrance fees and annual subscriptions (which may vary by category) shall be set by the Club in General Meeting. The Committee may, with effect from 1 January in any year, vary entrance fees and subscriptions by up to 12.5% without referral to the Club in General Meeting.

10.2  Subscriptions are payable annually and shall be collected by direct debit.

10.3  A Member whose subscription remains unpaid by the Annual General Meeting following the due date, may be removed from membership at the discretion of the Committee.

10.4  No Member may exercise membership rights while subscriptions or arrears remain unpaid.

10.5  The Committee may introduce differential entrance and annual fees (or waive the collection of such fees) for different classes of Member.

  1. Annual General Meeting

11.1  The Annual General Meeting (AGM) shall be held before 30 April each year, on a date determined by the Committee.

11.2  The meeting may be in person or virtual; if the meeting is to be in person, it shall be held in London

11.3  Business at the AGM shall consist of:

11.3.1  approval of accounts.

11.3.2  election of Officers and Committee Members; and

11.3.3  any other business specified in the notice.

11.4  Candidates for the Committee, Flag Officer, and Officer positions (other than ex-officio officers) must be proposed and seconded by Full Members of the Club. The name of every candidate, with the names of his/her proposer and seconder, must be received by the Honorary Secretary not less than 7 clear days before the Annual General Meeting.

11.5  Voting at the AGM shall be conducted in accordance with Rule 12

  1. General Meetings including AGMs

12.1  The Committee may call a General Meeting on at least 14 days’ notice specifying the business to be conducted.

12.2  The Committee shall also call a General Meeting on the written request of twelve Members

12.3  The quorum for a General Meeting of the Club shall be ten Full Members present in person or attending a virtual meeting

12.4  Where Members are asked to consider or approve matters relating to any company wholly owned or controlled by the Club or its members, including Lutine Yachts Limited, such matters shall be considered and determined in accordance with these Rules

12.5  To the extent permitted by law, any resolution of the Members which is expressed to relate to such company, and which would, if passed by the members of that company, constitute an ordinary or special resolution of that company, shall be taken to constitute the corresponding resolution of that company, subject always to compliance with the Companies Acts, any applicable regulation, and the articles of association of that company

12.6  Every question shall be determined by a majority of votes cast, save as otherwise provided in these Rules. Each Full Member present in person or by proxy shall have one vote. The Commodore shall have a casting vote in the event of an equality of votes.

12.7  Notwithstanding Rule 12.6:

12.7.1  any resolution to amend these Rules shall require a majority of not less than seventy five per cent of the votes cast;

12.7.2  any resolution of the Club which authorises, requires or directs the amendment of the articles of association of Lutine Yachts Limited, or which would reasonably be expected to necessitate such an amendment in order to be implemented lawfully, shall also require a majority of not less than seventy-five per cent of the votes cast;

12.8  The Commodore shall not exercise a casting vote on any resolution in which the Commodore has a direct personal interest or which concerns the Commodore’s appointment, removal or conduct.

12.9  Members may vote in person, by proxy or by sending their vote to the Honorary Secretary to be received not less than 48 hours before the meeting.

  1. Officers

13.1  The Flag Officers of the Club shall be:

13.1.1  the Commodore;

13.1.2  the Vice-Commodore; and

13.1.3  two Rear-Commodores, one responsible for sailing and one responsible for Club affairs.

13.2  Other Officers of the Club may include:

13.2.1  an Honorary Secretary;

13.2.2  an Honorary Treasurer; and

13.2.3  an Honorary Solicitor,
but it shall not be necessary for all such offices to be filled at all times

13.2.4  Flag Officers and Officers shall normally be elected for a term of one year. If no alternative candidate has been proposed and seconded for any office, the existing office-holder may continue in office without re-election.

13.3  Any Flag Officer, Officer or Committee member may be removed from office by resolution of the Club passed by a majority of the votes cast at an Annual General Meeting or General Meeting.

13.4  The Ex-officio Officers of the Club shall be:

13.4.1  the Patron, who shall be the Chairman of Lloyd’s if he or she consents;

13.4.2  the President

13.4.3  the Admiral and

13.4.4  the Vice Admiral.

13.4.5  The President shall be elected by the Club on the recommendation of the Committee and shall hold office until resignation or removal by the Committee or by resolution of the Club at an Annual General Meeting or General Meeting.

13.4.6  Upon ceasing to hold office, the Commodore shall become Vice Admiral of the Club. When a new Vice Admiral is appointed, the existing Vice Admiral shall become Admiral. The offices of Admiral and Vice Admiral are honorary and ceremonial, they shall not be members of the Committee by virtue of those offices

  1. Committee Constitution

14.1 The Committee shall consist of:

14.1.1  the Flag Officers and Officers other than Ex Officio officers

14.1.2  as many other Members as the Flag Officers and Officers, acting as the Committee, determine are necessary to effectively administer the Club

14.2  Flag Officer, Officer or Committee members may be appointed by the Committee until the next AGM when the appointment will be ratified or will lapse.

  1. Elections

Subject to these Rules and applicable law, the outcome of any election conducted in accordance with these Rules shall be final and binding on the Club and its Members. 

  1. Powers of the Committee

16.1  Any action, decision, or determination taken by the Committee in accordance with these Rules, including any decision taken by a subcommittee, body or person authorised by the Committee to act on its behalf, shall be deemed a decision of the Committee and shall be valid and effective even if not all members of the Committee participate.

16.2  The Committee shall be responsible for the management and administration of the affairs, activities, and assets of the Club in accordance with these Rules and the objects of the Club. Acting in good faith and in the interests of the Club, the Committee shall have power to do all things which it considers reasonably necessary or expedient for the proper operation and governance of the Club, including (without limitation):

16.2.1  to take disciplinary action in accordance with Rule 9,

16.2.2  the ownership, operation, chartering, insurance, and management of any vessels owned or chartered by or for the Club (whether directly or through Lutine Yachts Limited or any successor or subsidiary vehicle),

16.2.3  the organisation of sailing, social and other events for Members, their guests and third parties,

16.2.4  the management of communications and publications,

16.2.5  the engagement and remuneration of employees, contractors and professional, administrative, or technical advisers,

16.2.6  the entering into contracts on behalf of the Club, the management of finances and banking arrangements,

16.2.7  the purchase and sale of merchandise, and

16.2.8  the delegation of functions,

provided always that the Committee acts within any financial limits approved by the Club in General Meeting and consistent with the limitations on Member liability and the supremacy of General Meetings under these Rules.

16.3  The Committee has the authority to establish sub committees and to issue protocols, procedures, and policies consistent with these Rules.

16.4  Except as prohibited by these Rules, if the Committee considers it necessary for proper administration, safety, legal or regulatory compliance, or the effective administration of the Club, it may adopt interim amendments to these Rules, and adopt or amend protocols, procedures, and policies, with immediate effect. Such adoptions or amendments may not alter members’ voting rights and shall lapse unless ratified by the Members at the next AGM.

  1. Committee Meetings

17.1  Committee meetings may be convened by any Officer or any two Committee Members.

17.2  A quorum shall be a Flag Officer who will chair the meeting and two other Committee Members.

17.3  If votes are equal, the Chair shall have a casting vote.

17.4  The Committee may invite Members to attend meetings in an advisory capacity.

17.5  Members may attend Committee meetings as observers unless the Committee resolves that all or part of the meeting shall be held in private for reasons of confidentiality, sensitivity or good governance.

17.6  An observing Member may, with the consent of the Chair, address the Committee on a specific matter or ask the Committee to consider a particular point, but shall not be entitled to participate in discussion or decision-making unless invited to do so by the Chair.

17.7  The Chair may impose reasonable limits on the time and manner of any address by a Member and may require any observing Member to withdraw while the Committee deliberates or votes.

  1. Ensign and Burgee

18.1  The Club Ensign is a red ensign of Her Majesty’s Fleet defaced by the shield of the coat of arms of the Corporation of Lloyd’s.

18.2  The Club Burgee is white with a blue St. George’s Cross and the shield of the coat of arms of the Corporation of Lloyd’s in the upper corner.

18.3  Any Member of the Club who contravenes the following rules concerning the Club Ensign and the Ministry of Defence warrants for it, shall be subject to the Club’s disciplinary procedure in accordance with Rule 9: –

18.3.1  The Ensign shall be worn according to the regulations made by the Ministry of Defence from time to time. The holder of the Ministry Defence warrant must acquaint himself/herself with such regulations.

18.3.2  The Ensign shall be worn only if the owner holds a Ministry of Defence warrant to be obtained through the Club provided that the owner and such warrant are on board the vessel when the Ensign is worn. When the yacht is in harbour or at anchor near the shore, the owner need not be on board but must be in effective control of the yacht.

18.3.3  When a vessel belonging to a Member is wearing the defaced red Ensign on the authority of a warrant obtained through the Club, that vessel shall also wear the Club’s Burgee at the masthead. Conversely, the Club Burgee shall not be worn in conjunction with a privileged Ensign agreeable to a warrant obtained through another Club.

  1. Officers’ Flags
    The Commodore’s flag is the Club Burgee in the form of a broad pennant or swallow-tail. The Vice-Commodore’s flag is the same as the Commodore’s with the addition of a blue ball over the crest. The Rear-Commodore’s flag is the same but with two blue balls over the crest.
  1. Limitation of Club liability

20.1  The Club will not accept any liability for any damage to or loss of property belonging to Members, their guests or visitors arising from their use of the Club’s facilities or through participation in events organised by the Club.

20.2  As far as permitted by law, the Club will not accept any liability for personal injury arising out of the use of the facilities of the Club or from participating in events organised by the Club.

20.3  Members’ relevant personal data will be treated in accordance with the Club’s privacy notice

  1. Contracts

21.1  The Committee shall have authority to enter into contracts and other arrangements on behalf of the Club in connection with the management, administration and activities of the Club.

21.2  The Committee may appoint any person or sub-Committee to act as agent of the Club for such purposes and on such terms as the Committee considers appropriate.

21.3  No individual Member shall have authority to bind the Club or to enter into any contract or commitment on behalf of the Club unless authorised by the Committee.

21.4  Nothing in these Rules shall prevent any director of Lutine Yachts Limited from entering into contracts on behalf of that company in accordance with the Articles of Association of that company and applicable law.

  1. Members indemnification of Committee

22.1  The Ex officio Officers, Flag Officers, Officers, members of the Committee, members of any sub-committee and any person asked or authorised by the Committee to assist it or act on its behalf may be indemnified by the Club out of the assets of the Club against any liability properly incurred by them in the execution of their duties on behalf of the Club, provided they have acted in good faith and in accordance with these Rules.

22.2  No Member’s liability under this indemnity shall exceed a sum equal to one year’s subscription at the rate applicable to that category of membership at the relevant time.

  1. Lutine Yachts Limited

23.1  Lutine Yachts Limited (“the Company”) is to hold and operate Club assets, including the Club yacht, Lutine, for the benefit and purposes of the Club.

23.2  Only Full Members of the Club shall be members of Lutine Yachts Limited. Non-voting categories shall not be Members of Lutine Yachts Limited. Admission to or cessation of Full Membership of the Club shall automatically result in admission to or cessation of membership of Lutine Yachts Limited, without further formality.

23.3  The Flag Officers, Officers and Committee are to oversee the management of the Company through Members who are officers and directors of the Company. The Club will indemnify such Members for the actions they properly take in connection with the Company.

23.4  The Club shall have primacy in determining policy, strategy, and use of the yacht, subject always to applicable law.

23.5  Members of the Company shall, when mandated by the Club in general meeting, vote in favour of amendments to the Company’s articles, provided such amendments are lawful.

23.6  The Club may maintain insurance and indemnities in respect of activities carried out by or through the Company, and vice versa, where lawful.

23.7  The Club may make payments to, and receive payments from, the Company in furtherance of the Club’s purposes. Such payments shall not constitute distributions of profit.

  1. Serving Notice
    Notice shall be deemed served if sent to a Member’s last notified postal or electronic address or published through the Club’s usual communication channels. Each Member is responsible for ensuring that the Club is provided with current and accurate contact details. No Member shall be entitled to object to, or challenge the validity of, any notice or proceedings of the Club on the grounds that the Member did not receive the notice as a result of outdated or incorrect contact details.
  1. Interpretation

In these Rules, unless the context otherwise requires:

25.1  words importing the singular include the plural and vice versa;

25.2  words importing any gender include all genders;

25.3  references to persons include individuals and bodies corporate;

25.4  references to statute include any statutory modification or re-enactment thereof; and

25.5  references to a “General Meeting” include the Annual General Meeting unless the context requires otherwise.

 

Approved by the Annual General Meeting held on 1 April 2026