Omaha Beach - Special Meetings of Members

Minutes of Special General Meeting held Sunday 1st April 2012 10.30 AM, at Omaha Beach Club

Item:

Changes to the Constitution.

Kim Fisher - Treasurer outlined the reason for the changes -

Revision to the constitution is administrative only in regards to the tax free status of O.B.C. Inc. The IRD have been very helpful, the proposed change was put to them and they have approved the above.

Kim Fisher advised - As revenue of the OBC has grown the OBC had to be registered for GST and remain a "not for profit" organisation and as such requires these changes to be made. Also essential that change ensured members could not gain any profit by virtue of membership of OBC at any time, including the event of being wound up (remote).

Changes moved by Kim Fisher
Seconded Chris Allan

Motion put - Unanimous*

* The Constitution requires that any changes made to same requires a quorum of 50 members. Present at this meeting 14 members with 161 proxies supporting amendments.

Notice of Special General Meeting
To be held in the club (Community Centre) Omaha Beach Sunday 1st April 2012 commencing 10:30 AM

BUSINESS OF THE MEETING

TO APPROVE THE FOLLOWING CHANGES TO THE CONSTITUTION

Add new clause 11.3.(b)
No addition to or alteration in rescission of the rules shall take effect if it affects the objects of Omaha Beach Community Inc, the pecuniary profit clause or the winding up clause without the approval of the Inland Revenue Department.

New clause 11.4 (note all succeeding clauses advance by a number)
Pecuniary gain not to be an object. The Omaha Beach Community Inc does not have as an object the pecuniary gain of members and no member shall be entitled to receive any dividend out of any levy, fee, donation or other income or funds of the Omaha beach Community Inc.

EXPLANATORY NOTES

These changes proposed are necessary to maintain the not for profit status of the Omaha Beach Community Inc (OBC) and are required by the Inland Revenue Department. They follow the registration of OBC for tax and GST in November 2010.

No change to the activities of OBC is intended. The new clauses operate to prevent members at some future date deciding to receive by way of income, profits earned by OBC or sharing in a distribution of the accumulated funds in the event it was decided that OBC should cease activities and be wound up.

The present Constitution contains such clauses but does not provide for the situation where the membership decided to make changes that would overturn these rules.

Not for profit status is important to OBC and recognises that such funds as are retained have been built up from members' subscriptions, rather than business activities and are available to be spent on the objects set out in the constitution, which are to promote and safeguard the interests of the Property Owners of Omaha Beach.

The only purpose of the meeting is to consider the resolution and it is expected to be quite short.

We very much need your support to approve the changes. In the event that you are unable to attend the meeting a proxy form has been attached which we ask you to use. It is most important that we have sufficient votes cast to ratify the changes needed. You may appoint the chairman or another person to cast your vote and we ask that you take the time to do this. To facilitate this please note that proxies can be emailed, faxed or posted.

Graham Painter
President
Omaha Beach Community Inc