AGM
Your votes count! The 2021 AGM on 30 November needs your input. The Board will be recommending some updates to the Constitution and they cannot be implemented without a 75% majority in favour. You are encouraged to attend or make your voice heard by appointing the AGM Chair or another voting Member as your proxy to attend and vote for you, either on your instructions or at their discretion. Registration, proxy appointment and voting on the day will be managed online this year through Vero Voting. There will be four special resolutions for decision.
Allow Virtual General Meetings of Members (GMs) The REIV is a not-for-profit Company Limited by Guarantee constituted under the Corporations Act. Thanks to some temporary amendments to the Act, we were able to hold our 2020 AGM virtually and will do so again this year, with the Board and CEO participating from the REIV office. Permanent change to the Act is on the way, but the REIV will only be able to hold virtual GMs if the Constitution expressly permits them. It makes sense for the REIV to include provision in the Constitution so that virtual GMs can be held if necessary.
Direct Voting (DV) The Corporations Act permits DV but only if it is allowed in the Constitution. DV means that Members have the choice of appointing a proxy or voting in advance without needing to attend the General Meeting. It enables you to participate in decision making directly wherever you are and regardless of your work, family and other commitments.
2014 AGM
2015 AGM
2016 AGM
2017 AGM
2018 AGM
2019 AGM
2020 GM
2020 AGM
In person
11
12
19
20
28
50
77
41
Proxy voters
32
24
40
19
13
221
787
3
DV is not new and is used for voting in REIV Director and Division Committee elections. Member participation has increased since we moved to online elections. The Board is keen for DV to be extended to resolutions for decision at General Meetings. DV has been used by many companies for years, with more Institutes also benefitting from the increased participation of their geographically dispersed and time poor Members. The REIV’s counterpart in Queensland, REIQ, the CPA, AICD and GIA are four such examples.
Proxy Lodgement The change from “one business day” to “48 hours” is to correct an error and will remove the possibility of a breach of the Corporations Act.
Voting at General Meetings Voting when a poll has been demanded will still be by secret ballot, as currently, except for a vote on meeting adjournment and election of the GM chair when none of the Office Bearers are available. This is because those two matters must be voted on immediately.
Informed decision making It has been suggested that attending and being part of the GM discussion is essential for ensuring that Members are properly informed before they cast their votes. Informed decisions are important. Member engagement, the circulation of quality information, seeking feedback and the transparent sharing of feedback to Members, all in the lead-up to the GM, are essential in helping Members decide. In 2015, 2019 and 2020 when Constitution changes were proposed, more Members voted by proxy and the majority of proxies were instructed how to vote. As such, those votes were cast before each meeting. The Board is keen for more Members, wherever they are, to exercise their right to vote and have control over their decisions. Direct Voting adds to Members’ options. For detailed information about all the proposals and details about the 2021 AGM, please visit reiv.com.au/ about-us/corporate-governance/ annual-general-meeting
The Estate Agent – NOVEMBER 2021 | 23
