For gods sake the fund pays for the wear and tear that has already occured. It is not a rainy day savings club.
The wear and tear that has already occurred has either already been paid for or it has reduced the
market value of the aircraft! so any group funds are extra to this market value and if a new member does not buy his share of this fund he is getting it for free!
And (B) is where your reasoning is flawed - if you were to buy all 5 shares in an aircraft, in a group, do you think that group is going to hand over £10K cash? No - they're going to split it amongst the 5 of them BECAUSE THE GROUP WILL HAVE BEEN DISSOLVED.
And that is why if you buy a share you should be buying the share of the fund!
Lets try another way to look at this. A group has a £25,000 aircraft and a £10,000 fund. Those that say you do not include the fund are saying you sell a 1/5th share for £5,000. The group now sells the aircraft for £25,000 (its market value) and buys a new one for £35,000 as that is how much the group funds are - seems to me the new member has done pretty well and the old member who paid in his share of these funds has got a pretty raw deal.
