The establishment of a Company Limited by Guarantee (CLG).

Dear Family,

A message from the LETA Trustees on behalf of Sahaja Yoga Australia.

We are pleased to share an important update regarding the structure of Sahaja Yoga’s entities in Australia.

A new company, Life Eternal Properties Australia Holdings Limited (Holdings), has been established as a company limited by guarantee (CLG). The shares of Life Eternal Properties Australia Pty Limited (LEPA) have been transferred into Holdings. The claim of a risk to our collective properties because of the private shareholding of three directors has now been forever resolved by this change.

Questions You May Have

1. Why was Holdings created, and why were the shares in LEPA transferred to it?

The Trustee directors believed that for the long term benefit of Sahaja Yoga in Australia, the shares in LEPA should be transferred to a new corporate entity so that there could be no suggestion that any individuals holding the shares were trying to control LEPA or to control the assets of Life Eternal Trust (Australia) (the Trust).

We have stated on many occasions that the properties have been safe and no individual shareholders in LEPA, since its inception in 1996, have tried to exert any control like this, however to settle collective attention we believed that taking this step was important. As a matter of best practice corporate structure, having the LEPA shares held in a corporate entity is also more efficient as it means that we will not need to transfer the shares again and no individual person holding the shares could try to influence control of LEPA in the future.

2. What does it mean that Holdings is a CLG?

As a company limited by guarantee, Holdings will have members but will not have any shareholders. The members of Holdings will not have any rights over the assets of the company or the right to receive distributions, but they will have liability for the company’s debts to a nominal amount which they agree to contribute if the company is wound up.

Effectively, this means that that no-one should be able to argue in the future that LEPA has private shareholders or individual beneficiaries.

3. Who will be the directors and members of Holdings?

The 10 Trustee directors of LEPA will be the initial directors and members of Holdings. The intention is that the same directors who manage LEPA will also manage Holdings now and in the future.

When a director resigns from LEPA, they will also resign from Holdings as director and member. When a new director is vibrationally appointed to LEPA, they will also be appointed as a director and member of Holdings at the same time.

4. Is there any intention that Holdings will be an operational entity?

No, at this stage there is no intention that Holdings will have any operational function other than holding the shares in LEPA. There is also no intention to appoint Holdings as trustee of the Trust.

LEPA will continue to be the sole trustee of the Trust and the main operational entity for Sahaja Yoga in Australia.

5. Why did the Trust establish a new CLG to hold the shares in LEPA, and not transfer the shares to an existing CLG?

The trustee directors of LEPA believe that the main control of LEPA should rest in the group of Sahaja Yogis who are appointed directors. There is a robust vibrational process for their appointment, and the Collective recently vibrationally tested in an independent process whether there should be fixed tenure for those directors too.

For these reasons, we thoroughly investigated the best way forward and determined we should establish a new CLG which would have the same group of Sahaja Yogis as the directors and members.”

The creation of the new CLG to hold the shares in LEPA is an evolution of Her Holiness Shri Mataji Nirmala Devi’s original framework for Australia, not a departure from it. The Trustee directors remain committed to safeguarding the unique and irreplaceable governance structure created by Her through the Trust.

6. Why didn’t you replace LEPA as trustee of the Trust with a new CLG?

There has been some suggestion over the years that the corporate trustee of the Trust should be a CLG as this better suits charities, and a new one should be created to replace LEPA (which is a proprietary limited or private company).

The LEPA directors have never shared this view. It is auspicious that HH Shri Mataji was instrumental in the creation of LEPA and personally appointed it as trustee to the LET. We did not want to lose this Divine heritage by replacing LEPA with a new company. It would also be more challenging and expensive to replace LEPA as we would have needed to arrange property transfers for all of the collective properties to the new entity.

7. With the creation of Holdings, will there be any change to the operations of the Trust?

No, there will be no changes. As noted for question 4, LEPA will continue to be the trustee and main operational entity of the Trust and it is not planned that Holdings will have any commercial functions at this stage.

In conclusion

The Trustee directors are very pleased to share this auspicious news regarding the creation of Holdings, which should help to uphold and protect HH Shri Mataji’s framework for Sahaja Yoga in Australia.

If you have any questions, please get in touch with the Trustee directors.