The Association of Financial Advisers (AFA) has confirmed that the minimum number of member forms required under the Corporations Act for an Extraordinary General Meeting (EGM) have now been received and will put the Resolution contained in the forms forward.
The Resolution seeks to change the AFA Constitution in a manner that reduces the policymaking powers of the AFA Board. It is a special resolution under the Corporations Act and requires a 75% majority support in order to be successful.
The AFA is required to advise members within 21 days of the date of the EGM and the EGM must be held within two months, so in this case, by 30 October 2016.
