Matters to be dealt with at the meeting include the election of directors, the appointment of external auditors, the amendment of the articles of amalgamation of the Credit Union to introduce a range for the number of directors, and the amendment of the by-laws of the Credit Union to introduce a range for the number of directors and to comply with the new Credit Union and Caisses Populaires Act, 2020 and related regulations.
The Credit Union’s articles of amalgamation as amended April 2022 provide for 11 board members. With the coming into force of the new Credit Union and Caisses Populaires Act, 2020, the Board of Directors is proposing to permit the full range of board size authorized in the new Act, namely 5 – 17 directors. Amendment of Articles of Amalgamation to this effect has been approved by the Credit Union’s Board of Directors and will be presented to the membership for confirmation at the upcoming Annual General Meeting.
The Credit Union’s by-laws provide for 11 board members. The Board of Directors is proposing to permit a range of 9 – 11 directors and an annual process of special board resolution for determining the specific number of directors for each board election cycle. Amendment of By-Laws to this effect and to incorporate changes required by the new Act and related regulations have been approved by the Credit Union’s Board of Directors and will be presented to the membership for confirmation at the upcoming Annual General Meeting. A summary of all by-law amendments forms part of this package.
The agenda for the meeting will be as follows:
1. Introduction
2. Opening
3. Adoption of the Agenda
4. Report of the Co-Chair, Board of Directors (including board gender diversity report)
5. Report of the Chief Executive Officer
6. Report of the Audit and Risk Committee
7. Report of the Auditor
8. New Business:
a) Adoption of Amendment of Articles of Amalgamation
b) Adoption of Amendment of By-Laws
c) Elections
d) Appointment of the Auditors
e) Other Business that is properly brought to the attention of the Board of Directors
9. Q&A
10. Termination
Copies of the financial statements, the reports of the audit and risk committee and the auditor, and amended by-laws will be available for inspection at a branch or upon request via email to info@northernbirchcu.com at any time before the date of the meeting.
