Notice To Members
51st Annual General Meeting
Notice is hereby given that the Fifty-first Annual General Meeting of Holiday Coast Credit Union Ltd will
be held at Wauchope Country Club, Wauchope commencing at 10:30am on Friday 26 October 2018.
Business of 2018 Annual General Meeting
- Receipt & Noting of Minutes
To receive and note the minutes of the Annual General Meeting held on 20 October 2017 as adopted by the Board. Copies will be available at the meeting for members. A member can request a copy prior to the meeting from the Company Secretary.
- Business Arising from the Minutes
- Receipt & Adoption of Reports
To receive and adopt the following reports for the year ended 30 June 2018: -
5.i Chairman’s Report
5.ii Chief Executive Officer’s Report
5.iii Annual Financial Report, Directors’ Report, Directors’ Declaration and Auditors Report
- Election of Directors
The Returning Officer Mrs Lyn Murphy has conducted the Ballot for Directors in accordance with the Constitution. The Chairman will announce the result of the Ballot at the Annual General Meeting.
- Directors Remuneration
To determine the remuneration of Directors.
It is the recommendation from your Board following an endorsement for such by the Board Remuneration & Succession Planning Committee that the amount to be approved this year for Directors Remuneration be a lump sum based on the McGuirk Board Remuneration Benchmarking Review 2017/2018 for a maximum total of 8 Directors excluding the CEO and that the apportionment of the lump sum among Directors be as determined by the Board.
By application of this previously agreed formula, it is recommended that the lump sum for remuneration of Directors for the year ending at the 2019 Annual General Meeting be a total of $321,737 plus the amount equivalent to the Superannuation Guarantee payment for the period for a total of 8 directors excluding the CEO ($312,990 plus the amount equivalent to the prescribed Superannuation Guarantee payment confirmed at 2017 AGM for a total of 8 directors) and that the Board of Directors be authorised to determine the apportionment between Directors. This remuneration is in addition to the reimbursement of any out of pocket expenses incurred by Directors in fulfilling the duties and functions of Directors of Holiday Coast Credit Union Ltd in accordance with Board Policy.
- To consider any other business of which notice has been received in accordance with the Constitution
- Recognition of Service
Presentation of awards to those staff who, since last Annual General Meeting, have attained 10, 15, 20, 30 or 35 years service with the credit union.
- Close of meeting
Copies of the 2017-2018 Annual Financial Reports (including the Independent Auditor’s Report) will be available from Tuesday 2 October 2018 online here, at the Registered Office at 1 Commerce Street Wauchope or any of our branches. You can also request a copy by calling 1300 365 7 24.