Results of 2016 Annual General Meeting and Benefit Fund Meetings of the Australian Scholarships Group (ASG)
The 42nd Annual General Meeting for ASG was held on Friday 28 October 2016 at the Monash Conference Centre in Melbourne. This was the first time that ASG held its AGM in a central location, with the aim that as many members as possible could attend. We were pleased to see that 37 members’ were in attendance, as well as members in New Zealand via videoconference.
Australian and New Zealand members attending the event listened to a talk by renowned Australian author and teacher, John Marsden and presentations about ASG’s performance made by the chairman, Craig Dunstan and chief executive officer, John Velegrinis.
The results of the AGM items on the agenda were as follows:
- Minutes of the last AGM held on 30 October 2015 were approved and adopted.
- ASG’s Financial Report for the year ended 30 June 2015 was received and adopted.
- Ms Monique Sasson and Mr Tony Brain were elected as directors for a further term of three years. Based on valid proxy forms received and votes on the day, the pool available for director remuneration was approved to remain the same as that approved at the 2015 AGM.
- The members voted to repeal the ASG Constitution and to replace it with a new constitution incorporating specific changes detailed in the Notice of Meeting and Explanatory Memorandum which are available on our website.
Benefit Fund Meeting – The Education Fund
The Benefit Fund meeting for this fund was held on the same day. At the meeting, the members resolved to approve the changes proposed to the asset allocation ranges and the definition of ‘Authorised Investments’ in the rules. The changes approved by the members are contained in the Notice of Meeting and Explanatory Memorandum accessible here and a copy of the Rules for The Education Fund marked to reflect the changes approved is available here. Our prudential regulator, the Australian Prudential Regulation Authority, is required to approve the amendments as an appropriately authorised amendment by members. We will update the website when this approval has been received.
Benefit Fund Meetings – Supplementary Education Program, The Education Fund (New Zealand) and the Supplementary Education Program (New Zealand)
The Benefit Fund Meetings for Rule 61 – Supplementary Education Program, Rule 62 – The Education Fund (New Zealand) and Rule 63 – Supplementary Education Program (New Zealand) were adjourned that day. Subsequently, the Board has determined to hold the adjourned meetings in late March 2016. A notice of meeting and explanatory memorandum will be sent out to all members closer to that time.
The Full Annual Report and Annual Report Summary are available here