Meetings of the Trust

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Types of meetings

These Annual General Meeting and othe general meetings are different to the Committee of Management meetings, which are only for Committee of Management members to attend and are held 6 times a year.

Annual General Meeting (AGM)

The Trust must hold an AGM every year to give shareholders and residents the chance to share their views, ask questions, and discuss key issues. This ensures the Trust is accessible and accountable to shareholders and residents.

How am I notified of an AGM?

The Secretary of the Trust must send a written notice to all shareholders at least 14 days before the meeting. The notice must include:

• date, time, and location of the meeting
• agenda items to be discussed
• list of shareholders from the share register on the date the meeting is called.

What information must be provided for an AGM?

At least 14 days before the AGM, the Trust must send the following financial reports to all shareholders:

1. Audited balance-sheet
2. Audited profit and loss account
3. State of affairs report from the Committee of Management
4. Auditor’s report on the balance-sheet, profit and loss account and the state of affairs report

What happens after the AGM?

The Trust must send copies of the following reports to the Minister for Treaty and First Peoples (Minister) within 14 days after the AGM:

• audited balance-sheet
• audited profit and loss account
• state of affairs report
• auditor’s report on the balance-sheet, profit and loss account and the state of affairs report
• share register (as of the AGM date).

General meetings

The Trust may hold a general meeting at any time, in addition to the AGM.

Key requirements

• at least one general meeting must be held each year (separate from the AGM)
• the Secretary of the Trust must send a written notice to all shareholders at least 14 days before the meeting.

How am I notified of an AGM?

The notice must include:

• date, time, and location of the meeting
• agenda items to be discussed
• list of shareholders from the share register on the date the meeting is called.

What happens after the a general meeting?

The Trust keeps records (or minutes) of decisions at general meetings, however unlike AGMs, there are no additional reporting requirements.

Requirements for Trust meetings

Timing of AGMs and general meetings

• AGMs must be held every year, within six months after the end of the financial year (by 31 December).
• At least one general meeting must also be held each year, but not within two months before or after the AGM.

Voting at meetings

• Only shareholders can vote at AGMs and general meetings.
• Shareholders must be present in person to vote.

Quorum requirements

Quorum is the minimum number of shareholders required for a meeting to proceed.

• 50% of resident shareholders (as of the date the meeting was called) must
  attend.
• If quorum is not met, the Chairperson must reschedule the meeting within
  2 to 6 weeks.

A quorum is important, as it ensures that shareholders are involved in the decisions made by the Committee.

Meeting minutes

Minutes must be kept for all AGMs and general meetings to ensure there is a written record of decisions made.

Meeting minutes can be requested by shareholders or the Minister and must be provided within 14 days.

Meeting exemptions or extensions

There may be times the Trust needs to request an exemption or extension for holding meetings from the Minister.

The Minister can grant the request, extend the deadline, or refuse a request if an exemption has been granted within the same or previous year.