NOTICE TO MEMBERS 65th ANNUAL REPORT AND 66th ANNUAL GENERAL MEETING Bankstown District Sports Club Limited (A Company Limited by Guarantee) ABN 88 000 243 916 Members are advised that the 65th Annual General Meeting of members will be held at the Bankstown Sports Club on Level 2, Events Centre, 8 Greenfield Parade, Bankstown on Monday, 6 November 2023 commencing at 7.00 p.m. The Bankstown District Sports Club Financial Statements for 2023 will be available on the Club website www.bankstownsports.com/agm 21 days prior to the AGM. AGENDA 1.
Welcome
2.
Apologies (if submitted in writing)
3.
Confirmation of the Minutes of the Annual General Meeting of members held on 7 November 2022.
4.
Adoption of Board of Directors’ Expenses: To consider and if thought fit, pass an Ordinary Resolution as follows: a.
5.
Pursuant to the Registered Clubs Act, the members hereby approve the payment of Directors’ Expenses in a sum not exceeding $150,000.00.
Adoption of Board of Directors’ Remuneration: To consider and if thought fit, pass an Ordinary Resolution as follows: a.
Pursuant to the Registered Clubs Act, the members hereby approve the payment of remuneration or honorariums to the Directors in a sum not exceeding $200,000.00 to be apportioned between each of the Directors, as determined by the Board.
6.
Reception and adoption of the 65th Annual Report and Financial Statements (Directors' Report, Financial Statements and Directors' Declaration, Independent Audit Report).
7.
Chief Executive Officer’s Report
8.
Election of Directors
9.
General Business: The Chairman may conduct business on the Agenda in the order of his choice subject to the rules of debate.
BY DIRECTION OF THE BOARD Michael Clancy CEO EXPLANATORY NOTES: – Ordinary Resolution - Item 4 Directors’ Expenses - is to have the members at the Annual General Meeting approve an amount no greater than $150,000 of expenditure by the Club’s Directors which may be required to perform their duties as a director. By way of example, Directors’ Expenses includes expenses incurred by our Board Members in: a. b. c. d.
Attending industry conferences and seminars (e.g., Clubs NSW); Attending company director conferences and seminars (e.g. Australian Institute of Company Directors, Governance Institute of Australia); Acquiring professional qualifications and or experience in relation to company directorships and business management; and Marketing and promoting the Club (e.g. developing and maintaining relationships with business partners, industry groups, peak sporting and community bodies, Federal, State and Local Government etc).
This expenditure has been incurred by the Club in previous years and has been approved by members each year when the annual accounts have been adopted.
The adoption of this Ordinary Resolution by members will confirm and set an upper limit on the amount to be expended, and other additional benefits directly related to activities of the Club and meet the disclosure requirements of the Corporations Act 2001 and the Registered Clubs Act 1976 as amended. The Board recommends you vote in favour of the Ordinary Resolution. EXPLANATORY NOTES: – Ordinary Resolution – Item 5 Directors’ Remuneration - is to have the members at the Annual General Meeting approve an amount no greater than $200,000.00 to be provided to the Board of Directors by way of remuneration and/or honorariums for service provided from the date of the Annual General Meeting and for a period of twelve months thereafter. This amount will be apportioned between the Directors in an amount to be determined by the Board. The Board has considered the amount of remuneration and feels that it is aligned with the duties performed by the Directors and the time and effort spent overseeing the management and operation of the Club on a day-to-day basis. There are currently eight directors and the Board considers that this is a fair amount to be remunerated for the period of service. The adoption of this Ordinary Resolution by members will confirm and set an upper limit on the amount to be expended and meet the disclosure requirements of the Corporations Act 2001 and the Registered Clubs Act 1976 as amended. The Board recommends you vote in favour of the Ordinary Resolution. Dated: ……………………………….
Michael Clancy CEO
2 Notice to Members – AGM 2023 Bankstown Sports