25 October 2023
Notice to Members
57th Annual General Meeting
Coastline Credit Union Limited
Coastline Credit Union Limited will be conducting its 57th Annual General Meeting on Wednesday 29 November 2023 commencing at 5.45 pm at the Coastline Community Hub 26 Smith Street Kempsey.
1 Annual Report
To consider and receive the Directors Report, Financial Statements and Audit Report
2 Appointment of Director
To consider, and if thought fit, to pass the following ordinary resolutions:
2.1 That Vanessa McNeilly be reappointed as a director.
2.2 That Tania Powick be reappointed as a director.
3 Directors Remuneration
To consider, and if thought fit, passing the following general resolution: That aggregate Directors fees for the 2023/24 financial year be set at $436,934 including statutory superannuation and Retirement Benefit Provision.
4 Constitutional Amendment – Board Appointed Director
To consider, and if thought fit, to pass the following resolution as a special resolution: To give the Board power to appoint an additional director on terms determined by the board:
That the Credit Union’s Constitution be amended as set out in the Annexure to the Notice of AGM.
By order of the Board of Directors
Company Secretary – 26 October 2023
A member including a body corporate entitled to attend and vote at this meeting of the Credit Union is entitled to appoint a proxy to vote on their behalf. A proxy need not be a member of the Credit Union.
To have effect, proxy forms must reach the Coastline’s registered office, 64 Elbow Street West Kempsey NSW 2440 not later than 48 hours before the start of the meeting. Proxy forms are available at www.coastline.com.au or by calling 1300 36 1066.
Item 4: Constitutional Amendment – Board Appointed Director
This special resolution will give the board of directors the power to appoint two directors in addition to directors elected by members or filling casual vacancies. A board appointed director will hold office for a term determined by the board, not exceeding 3 years. The remuneration of the board appointed director will be set by the board and will not be subject to member approval.
This Constitutional amendment gives the board the flexibility to appoint extra directors when it considers it appropriate to do so. This would, for example, allow the board to appoint a director with particular skills or experience it considers desirable.
To be passed this special resolution requires the approval of at least 75% of the votes cast by members at the meeting, in person or by proxy. The directors unanimously support this special resolution and recommend that you vote FOR it.
Annexure – Item 4: Constitutional Amendment – board appointed director
- In clause 48.3 replace “the Directors may appoint a person as a Board Appointed Director for a term of office determined by the Directors that does not exceed 3 years” With “the Directors may appoint two persons as a Board Appointed Director for a term of office determined by the Directors that does not exceed 3 years”.