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Wednesday, 06 May 2020
FSC Australia‘s Annual General Meeting postponed until July 2020

Director nominations remain open


Responsible Forest Management Australia Limited (RFMAL), trading as FSC Australia, is required to hold its Annual General Meeting (AGM) by the 31 May 2020.

The requirement to hold the AGM is overseen by both the ACNC and ASIC as our regulators. Their guidance concerning the restrictions for Covid 19 has provided the Board with an opportunity to consider the timing of the 2020 AGM.

Given a number of issues have been raised by ASIC relating to the use of telepresence for AGM’s, and the guidance of ASIC and ACNC, the board felt that continuing with the meeting in May 2020 would create unacceptable levels of uncertainty for all.

The decision to postpone the AGM was not taken lightly as the AGM this year is critical to the continuing success of FSC. Nevertheless, given the uncertainty surrounding COVID-19, the Board has decided to postpone the AGM to priortise and protect the health of the members and the team.

The Impact of postponing the AGM
As well as using the AGM as an opportunity to gather members and discuss mutual areas of interests, the primary purpose of the AGM is for the:

· Members to elect the directors to the Board;
· Board to present the members with the Financial Statements for 2019 – 2020, and discuss the performance of the organisation; and
· Board to confirm the appointment of the external auditor.

Director Elections
This year Responsible Forest Management Australia Limited (RFMAL), trading as FSC Australia, is seeking to fill five (5) positions on the Board.

One of the critical outcomes for the AGM is to confirm the new Board and, where required, for members to vote when the nominations exceed the number of vacancies.

FSC Australia has called for nominations for the five positions and the nominations closed last Friday (24 April 2020). However, given the postponement of the AGM, the director nominations will remain open until 25 days prior to the fixed date of the AGM.

For any member considering nominating for one of the vacant board positions, this means that you may submit your nomination on the appropriate documentation until 25 days prior to the meeting. The dates for both the AGM and the deadline for Board nominations will be confirmed shortly.

The normal requirements for being considered eligible to be a director apply and can be found on the nominations form (click here).

Usually, the retiring directors and the directors filling casual vacancies would vacate their roles during the AGM in May. As the AGM has been postponed the Board has agreed that the current directors will continue to serve FSC Australia and its members until the AGM has been held. At this time that is likely to be in mid/late July.

Financial Statements:
The final draft of the Financial Statements has been completed and will be:
· Reviewed by the Board;
· Lodged with ASIC by 31 May 2020 as required under the Constitution and the Corporations Act;
· Sent to members to ensure transparency around our financial position prior to finalising the arrangements for the AGM.

Auditors:
At the AGM, the Board is required to appoint/confirm our external auditors.
Our current auditors will remain in place until the AGM in July.

If you have any questions please don’t hesitate to contact me at d.paull@au.fsc.org or alternately contact a director from your chamber.


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