Recommendations of the Members By-Laws Review Committee 21 Current By-Laws (January 2023) (A) Board’s Proposed Change (B) Board’s Rationale (C) By-Law Committee’s Recommendation (D) By-Law Committee’s Rationale (E) By-law 32(2) Without prejudice to By-Law 32 (1) (e)(iii) in the case of an extraordinary meeting minutes shall be circulated no later than fourteen (14) days after the date of such meeting. By-law 32(2) Amend. Change circulation of minutes from fourteen 14 days to seven (7) days. Otherwise accepted. The Society must have the staff to ensure minutes taken fresh at a meeting are circulated promptly while the issues are still fresh with members. By-law 33 33. (1) The Board may borrow monies on behalf of the Society. (2) The Board shall maintain a bank account at any bank duly registered under the Banking Act of Barbados. (a) The Duties shall also include: (i) the appointment of members of staff. (ii) the appointment of such sub-committees as it deems necessary or the proper running of the Society’s business. (iii) taking all measures to provide for the management of the affairs of the Society for which no provision is specifically made in these ByLaws. By-law 33(1) The Board shall maintain bank accounts at any bank duly registered under the Banking Act of Barbados and may borrow monies on behalf of the Society on such terms as the Board may determine. By-law 33(1) Amend. Delete ‘as the Board may determine’ and insert ‘as are consistent with FSC regulation, the Society’s bylaws, and stipulations from the members in meetings. By-Law 33(1) to read: The Board shall maintain bank accounts at any bank duly registered under the Banking Act of Barbados and may borrow monies on behalf of the Society on such terms as are consistent with FSC regulation, the Society’s bylaws and stipulations from the members in meetings. To ensure borrowings are within set frameworks with the members having ultimate authority to set limits for borrowings.
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