voting
how the voting works
Extraordinary Resolution, Special Resolution and Special Majority: Over 75% of members present needed to secure the vote
Ordinary Resolution: Over 50% of members present needed to secure the vote
In accordance with the Co-operative Principle of democratic member control, each Member shall have one vote on any resolution to be decided in general meeting, provided that:(a) any resolution to be passed as a special resolution under the Act must secure a special majority (as defined by the relevant section of the Act) of Eligible Members present, including those not present in person;(b) any resolution not defined by the Act as a special resolution shall be passed as an Extraordinary or ordinary resolution as set out in these Rules, provided that Investor Members shall not have more than 10% share of the voting strength on any Extraordinary or ordinary resolution.
Proxy Voting
A Member who is absent from a general meeting may appoint any person to act as their proxy, provided that no person shall hold a proxy for more than five Members at any one time in any general meeting.
Last modified 2yr ago