Foley: Changes to MFAA constitution make sense
By
Larry Schlesinger
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20/11/2009 9:30:00 AM
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1
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National Mortgage Brokers managing director Gerald Foley has backed the special resolution vote scheduled for next week's MFAA AGM.
The resolution, reported on Broker news yesterday, seeks to limit the number of people from one related group that can sit on the MFAA board to two directors.
Foley said comments on the issue made by MFAA CEO Phil Naylor were "pretty good" and the resolution was a "good outcome"
"It's a changing market. If there is control issue and perceived undue influence...then it makes sense," he said.
Naylor said the resolution was all about a "fair balance of representation on the [MFAA] Board" in the light of industry consolidation.
A 75% vote in favour of the resolution is needed to change the constitution.
Related stories:
MFAA looking to change constitution - 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"
Naylor: Further constitutional changes possible - MFAA CEO Phil Naylor says further changes to the MFAA constitution may be proposed once all the findings of the strategic review have been considered
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BBB on
20 Nov 2009 01:21 PM
I support this motion ,Gerald has it right, just imagine , the CBA , BankWest and Aussie all have a seat on the national board.
Brokers please vote for this motion, you can use a proxy vote.