Current Clause

Proposed amendment

7.3 Appointment of Directors

(b) Directors elected by the Members at the Annual General Meeting Hold Office Until the end of the next Annual General Meeting after election.

7.4 Procedure for Election of Directors

(iii) Directors who wish to stand for election for a further term shall advise the Chief Executive Officer of their intention to do so at least 14 days prior to the AGM and will not require re-nomination

7.6 Board renewal and succession

(a) In normal circumstances, Directors can only serve for 2 consecutive 2 year terms after which time they must stand for a period of at least 1 year to be eligible to re-nominate for the Board.

(b) Existing Directors at the time of the 2018 AGM who had been Directors for over 5 years could re-nominate for a 1-year term at the 2018 AGM. They would then be able to re-nominate for a further 2-year term at the 2019 AGM.

(c) In view of the exceptional circumstances arising from the 2020 COVID-19 pandemic, Directors elected at the 2019 AGM will have their two-year term extended by one year. For those Directors elected under Article 7.6 (b), they would not be eligible to nominate for the Board at the 2022 AGM.

For those Directors covered by Article 7.6 (c) and due for re-election at the 2020 AGM, they will be elected for a three-year period and will not be eligible to nominate for the Board at the 2023 AGM. Any Director elected for the first time at the 2019 AGM will serve for three years and will be eligible to nominate for election for the Board for a further two years at the 2022 AGM.

Delete Clause 7.3 (b)

7.4 Procedure for Election of Directors 

(iii) Directors who are eligible and wish to stand for election for a further term shall advise the Chief Executive Officer of their intention to do so at least 14 days prior to the AGM and will not require re-nomination

7.6 Board renewal and succession

a) Directors can serve for two consecutive 2 year terms after which time they must stand down. Directors who have served for two consecutive 2 year terms shall be eligible to nominate for re-election to the Board for a further (1 year) term at future AGMs.

Delete Clause 7.6.(b)

Delete Clause 7.6 (c)