Annual General Meeting (AGM) 2006
Liverpool Victoria's 2006 Annual General Meeting (AGM) took place on Friday 19th May at the De Vere Royal Bath Hotel in Bournemouth. The Society's Chairman, John Woolhouse, welcomed the members attending.
The AGM is every member's opportunity to speak personally to Liverpool Victoria's Directors, meet with fellow members and hear about the Society's business performance. More details about Liverpool Victoria's financial performance are available in the Annual Report & Accounts section of our website.
Key highlights of the AGM
- All resolutions passed
- Changes to the Society's Memorandum and Rules
- Ian Cordwell, Steven Daniels and Barry Rose re-appointed as directors for further three year terms
AGM resolutions
The Society borrows money in the normal course of business under other powers in the Memorandum, the opportunity was taken to clarify this by including an additional clause in the Memorandum.
Under the Rules a member is the original holder of a Society policy or a person who purchased from a Group company a product designated as a membership product in regulations made by the Board. The change in the Rules expanded the entitlement to membership to those who had previously purchased a product with a company or entity designated by the Board which is (or whose business is) acquired by the Society, and where the Board designates the product as a membership product. The change will help the Society acquire companies or entities (or their business) and strengthen the Society’s membership base.
Under the Rules, non-executive directors were required to retire at the AGM following the attainment of age 70. The change to the Rules removed this age requirement for non-executive directors to retire. Any election of a non-executive who is aged 70 or over will require the prior approval of the Board, notification to members entitled to vote on such election and will be the subject of a vote at an AGM. The change gives the Board flexibility in respect of the service of non-executive directors, in appropriate cases.
At the 2006 AGM the members, for the first time, were able to vote on the directors' remuneration report produced by the Remuneration Committee and the re-election of Ian Cordwell, Steven Daniels and Barry Rose as directors. This follows the changes to the Rules at the 2005 AGM.
Other resolutions proposed were the approval of the Report and Accounts for 2005 and the re-appointment of Ernst & Young LLP as the Society’s auditors.
All resolutions were passed overwhelmingly by the members in attendance and by the postal votes.
AGM 2007
All Members of Liverpool Victoria will be invited to attend next year's AGM, which will be held on 17 May 2007. Members aged over eighteen and who have held one of Liverpool Victoria's membership conferring products (see the list of our current membership products) for more than 12 months are encouraged to attend the AGM. Members may raise questions about and vote on, the resolutions that are placed before the meeting. Members who are unable to attend will be able to submit postal votes on the resolutions in the usual way. Details of the 2007 AGM will be posted to all members next April and will be available on our website.
