MFAA looking to change constitution
By
Larry Schlesinger
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19/11/2009 10:00:00 AM
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1
comments
The MFAA will ask members to vote on a special resolution at next week's AGM aimed at ensuring a "fair balance of representation on the Board"
"As a result of consolidation taking place in the industry and amongst the MFAA membership, the MFAA Board is conscious of the importance of ensuring it does not become dominated by any member or members but also is concerned about preserving the democratic rights of members to be elected to the Board," the MFAA said.
The resolution, if passed would ensure that "consolidated bodies (i.e. 'related bodies corporate') could not be represented by more than two members on the MFAA Board".
The MFAA said recent consolidations could mean that one consolidated group could potentially hold (if elected) four or more Board seats.
A 75% majority is required to amend the constitution.
A letter sent to Choice members urged them to support the special resolution and ensure "democratic rights and interests of all members are preserved".
The MFAA board is made up of 12 directors comprising: the MFAA president; six state presidents and chairs of the five national committees.
The current board can be viewed here:
The AGM takes place 5.30pm on Thursday 26 November 2009 at Sheraton on the Park in Sydney.
Will you be attending and will you be voting in favour of the resolution? Send in your thoughts...
Latest Comments
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Scott Beattie on
23 Nov 2009 12:37 PM
How can a bank ''respresent'' brokers, especially Kathy Cummings who seeming uses every opportunity to bash brokers?
If banks want a position on the board / panel / committee, that''s great - let''s create a seperate seat - Bank Lender, Non-Bank Lender, Agregator etc
Let''s keep the broker seats for brokers!