An association's committee must ensure that an annual general meeting (AGM) is held within 6 months after the association's financial year end. An association's constitution must specify its financial year.
For new associations, the first AGM must be held within 18 months from the date of incorporation.
If an association fails to hold an AGM or to submit financial statements to members at the AGM, then each member of the committee of the association will be guilty of an offence and liable to a penalty.
An association’s constitution must specify the manner of calling an AGM and the manner in which notice of the AGM is to be given. The notice convening the meeting should specify that the meeting is the AGM.
If the Model constitution applies, members must be given at least 14 days’ notice of an AGM, or 21 days’ notice if a special resolution is to be proposed. The notice of meeting must specify:
For convenience, the notice of meeting and notice of any special resolution can be sent to members at the same time and in the same document, provided it is sent not less than 21 days before the AGM.
If the association's constitution so provides, the AGM may be held at 2 or more venues using any technology that gives each of the association’s members a reasonable opportunity to participate.
The business of an AGM is normally to:
Tier 1 (large) associations have total revenue of more than $250,000 or current assets of more than $500,000.
At each AGM of a Tier 1 association, the committee must submit the association’s financial statements for the previous financial year, together with the auditor's report for those statements to the meeting.
For information on the financial statements and the auditor’s report, visit the Tier 1 associations financial reporting page on the Fair Trading website.
Tier 2 associations
Tier 2 (small) associations have total revenue of less than $250,000 and current assets less than $500,000.
At each AGM of a Tier 2 association, the committee must submit the association's financial statements for the previous financial year to the meeting. The financial statements must give a true and fair view of the association's affairs.
For information on financial statements, visit the Tier 2 associations financial reporting page on the Fair Trading website.
Tier 1 associations
Within 1 month after the AGM, or no later than 7 months after the end of the financial year, the association must lodge the following documents with Fair Trading:
Tier 2 associations
Within 1 month after the AGM, or no later than 7 months after the end of the financial year, the association must lodge the following with Fair Trading:
Importantly, failure to properly lodge the annual summary means an association will be guilty of an offence and liable to penalty. The statement will not be taken as lodged if the relevant fee has not been paid.
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