Recommendations of the Members By-Laws Review Committee 68 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) ANNUAL ACCOUNTS AND REPORTS AND AUDITS By-law 77 77. The Directors of the Society, in keeping with the provisions of the Act, shall: (1) cause the Society’s books to be audited annually; (2) cause the annual financial statements and accounts of the Society to be prepared and presented to the annual general meeting of members. By-law 77 No changes. By-law 77 Amend. Add Section 3 to state: The financial statements are to be available to members at least ten (10) days before the annual general meeting or as specified by the Regulators. The financial statements should be available to members in a reasonable time prior to the date of the convening of the AGM. SEAL AND EXECUTION OF DOCUMENTS By-law 78 78. The Society shall have a seal which shall not be affixed to any instrument except by the authority of a resolution of the Board and in the presence of the President and the Secretary. The President and Secretary or Treasurer shall sign every instrument to which the seal of the Society is so affixed in their presence. By-law 78 1) The Society shall have a seal, kept at its registered office or other place determined by the Board, which may be used as authorised by the Board and which shall not be affixed to any instrument except by the authority of a resolution of the Board. 2) The President, Secretary or Treasurer or any other Officer or employee of the Society to whom delegated authority has been provided by the Board, shall be authorized to sign instruments to which the seal of the Society is so affixed. Amended to include delegated officers in the signing of instruments. To place operational matters within the realm of management. By-law 78 By-law 78(1) Amend. Reword so section reads: 1) The Society shall have a seal, kept in a secure place at its registered office, which may be used as authorised by the Board and which shall not be affixed to any instrument except by the authority of a resolution of the Board. By-law 78(1) Emphasizing that the seal should be kept securely and should only be kept at the registered office.
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