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Notice of AGM & Proposed Resolutions

1. Notice is hereby given that the 54th Annual General Meeting of Sydney Credit Union Ltd will be held on 8 November 2017, at The York, 99 York Street, Sydney at 6.30pm.

ORDINARY BUSINESS
2. Welcome to Members and Visitors.
3. Confirmation of Minutes of the Annual General Meeting held on 9 November 2016.
4. Business Arising from Minutes.
5. To receive and consider the Financial Statements and Reports on behalf of the Directors and Auditor.

6. ELECTION OF DIRECTORS
Five (5) nominations were received to fill four (4) vacancies on the Board. Therefore, an election is required. Nominations received from:

7.TO NOTE THE RESIGNATION OF GRANT THORNTON AUDIT PTY LTD, accepted by the Directors due to the Board Audit Committee recommending the appointment of KPMG as auditors of Sydney Credit Union for the 2017-2018 year.

8.PROPOSED RESOLUTION APPOINTMENT OF EXTERNAL AUDITORS
To consider and if thought fit, to pass the following Resolution as an Ordinary Resolution.
"That, having consented in writing to act as auditor of Sydney Credit Union Limited, KPMG of International Tower 3, 300 Barrangaroo Avenue, Sydney NSW 2000 Australia, be appointed as auditors of Sydney Credit Union Limited"

The purpose of this Ordinary Resolution is to appoint KPMG as recommended by the Credit Union’s Board Audit Committee. Mr Ray Thorn, as a Member of SCU and also Chair of the Board Audit Committee, has nominated that KPMG be appointed Auditors and they have consented in writing to act as Auditor

A copy of the nomination is attached to the Notice of Meeting as Annexure A.

The Australian Securities & Investments Commission has consented to the resignation of Grant Thornton Audit Pty Ltd, the existing auditor, in accordance with the requirements of the Corporations Act 2001.

9.PROPOSED RESOLUTION TO DETERMINE THE DIRECTORS REMUNERATION FOR THE YEAT 2017-18
To consider and if thought fit, to pass the following Resolution as an Ordinary Resolution.
 “That Remuneration to be paid to Directors for the year 2017-18 be a lump sum of up to $196,988 with payments to individuals from that lump sum to be at the discretion of the Board and such amounts to incorporate all FBT and Superannuation commitments payable.”

10.GENERAL BUSINESS

PROXY FORMS

A Member who is entitled to attend and vote at the meeting is entitled to appoint a Proxy to attend and vote instead of the Member. A Proxy need not be a Member of the Credit Union. A Member who is entitled to cast two or more votes (if any) may appoint two Proxies and may specify the proportion or number of votes each Proxy is appointed to exercise. 

A Proxy Form can be obtained by contacting the Credit Union:

  • By Post: The Secretary, Sydney Credit Union, PO Box 444, BLACKTOWN NSW 2148
  • By email: agm@scu.net.au
  • By online copy
  • By telephone: (02) 9678 2138

To be valid Proxy Forms must be received by the Credit Union no later than 6.30 pm on Sunday 5th November 2017.

ANNUAL GENERAL MEETING

Please advise SCU if you wish to attend the AGM Meeting via one of the methods below:

  • Post: The Secretary, Sydney Credit Union, PO Box 444, BLACKTOWN NSW 2148
  • Email: agm@scu.net.au
  • Website: online form 
  • Telephone: (02) 9678 2138