BPWCCUL By-Laws Review 2025 – FINAL VERSION 24 EXISTING BY-LAW PROPOSED CHANGE RATIONALE elected to the Board or that Committee, he shall be ineligible for election to any other Committee. By-law 35(4) In addition to the provisions of By-Law 7, no member may be elected to the Board of Directors, the Credit Committee or the Supervisory Committee, unless that member: (a) is a citizen or resident of Barbados; (b) holds twenty-four (24) qualifying shares; (c) is not otherwise in breach of Section 57 of the Act. By-law 35(5) In addition to the provisions of By-law 7, a member may be elected to the Board of directors, the Credit Committee or the Supervisory Committee, if that member: a) is a citizen or resident domiciled in Barbados for no less than nine (9) months in a calendar year b) holds twenty-four (24) qualifying shares; c) has been a member in good financial standing for at least one year prior to the date on which the election will be held d) is not otherwise in breach of the Act, organisational policies or any of the below excluded categories New By-law 35(6) Excluded Categories An individual is not eligible to be an elected officer and, if currently an elected officer, will immediately cease to be an elected officer, if the individual is, or was: i. at any time during the three years prior to the date of the close of nominations set by the Committee in the applicable year: a) a director, officer, employee or agent of another Society or another Society’s subsidiary; or b) a direct competitor of the Society or any entity within its group of companies; Changed from negative to positive perspective Introduces good standing as a criterion for eligibility Expands the by-law by providing potential criteria for exclusion from the nomination process
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