Bolter
As I secure the answers myself, based on the documentation and the “briefing” given to the membership at large; the answers to all the questions are “no” or “none”.
The purpose in proposing the questions was to allow those of you on the outer-inner circle or those within the inner circle, to demonstrate that I have it wrong. I would be happy to be corrected, with empirical evidence rather than vague opinions expressed in anonymity.
If Austair had a framework that allowed the AAPMBF to elect, and by that control, the Directors of Austair, and if the AAPMBF still had elected members after the vote, all would be well.
There are no rules that allow the AAPMBF members to control the representation of Austair. Any vague assertion by the rules of AAPMBF, have absolutely no effect unless there is an enabling rule within the rules or the constitution of Austair. Currently there are no such rules and Austair has no constitution.
This is all about the structure and relationship of the organisations going forward.
When voting we must look at it being in effect for a considerable time with probable changes of principal players.
Once this vote goes through, if it is in the affirmative the members of AAPMBF will not have anyone to vote for.
There will be no “real person” Trustees of AAPMBF, just a corporate Trustee.
There are no Directors of AAPMBF, and there can be no Directors of AAPMBF unless and until the rules (rules 1 and 14) define and regulate that position.
There is nothing within the established rules of Austair, to allow the membership of AAPMBF to have any say, vote, or influence over the conduct of Austair.
The restrictions that we (AAPMBF) have in place limit our current Trustees, inter alia they:
can only serve one term (conditionally) after cessation of fund membership
must rotate on three yearly cycle,
they can be removed by AGM or Special GM
must be AFAP
As proposed NONE OF THESE WILL APPLY TO DIRECTORS OF Austair.
It may be that the Directors in their enlightened benevolence will transfer the current AAPMBF restrictions to apply to Austair Directors, but they haven’t at this point in time, they only seek to transfer the CONTROL of the Fund. When or if they they do, I will be happy to consider a yes vote.
Until that time I intend to VOTE NO.
Paul Makin
Former Chairman of Trustees AAPMBF.