BPWCCUL By-Laws Review 2025 – FINAL VERSION 21 EXISTING BY-LAW PROPOSED CHANGE RATIONALE By-law 34 (1) The Directors shall be elected at the annual general meeting of the Society in each year as herein provided. Every election shall be by ballot except where there is no contest. No member may be elected to the Board unless he holds twenty-four (24) fully paid shares in the Society and has been a member for at least six (6) months. By-law 34 The Directors shall be elected at the annual general meeting of the Society in each year as herein provided. Every election shall be by ballot except where there is no contest. No member may be elected to the Board unless he holds twenty-four (24) fully paid shares in the Society and has been a member for at least one (1) year as at the date of the meeting. Membership requirement extended to allow for greater knowledge of the Society to be acquired. By-law 34(2) If there are no directors remaining the Supervisory Committee and Credit Committee, sitting jointly, shall in writing appoint directors solely for the purpose of calling a general meeting to elect members to fill the vacant directorships. By-law 34(2): No change ELECTIONS ELECTIONS By-law 35 (1) The following shall apply to the conduct of elections for the Board of Directors, the Credit Committee and the Supervisory Committee, in keeping with Sections 56, 57, 205 and 211 of the Act and paragraph 13 of the Regulations: a. Not less than thirty (30) days prior to an Annual General Meeting, the Board of Directors shall By-law 35 (1) The Corporate Governance & Nomination Committee will be a standing committee of the Board, constituted in alignment with regulatory requirements, and shall oversee the election for the Board of Directors, the Credit Committee and the Supervisory Committee in accordance with the Co-operative Societies Act, Regulations and Guidelines and these By-laws. Complete rewrite. Amended to introduce and embed the role and responsibilities of the Nomination Committee as a replacement of the Credentials Committee in line with the FSC’s Corporate Governance Guidelines.
RkJQdWJsaXNoZXIy MTA2MDM=