AGM 2020 Rule Amendments

AGM 2020 Rule Amendments

Thursday, September, 23rd, 2021 in Credit Union News

At the 2020 Annual General Meeting of Enniscorthy Credit Union Ltd held virtually on 20th April 2021, amendments to Enniscorthy Credit Unions Standard Rules were approved by a two-thirds majority of members present and voting at that meeting. These amendments related to Rule 1, Rule 96, Rule 98 and Rule 99, all of which incorporated changes to allow for virtual AGMs. A change to Rule 13 was also approved by our members relating to our membership fee.

These rule amendments, once passed by our members at the AGM, were duly registered with the Registry of Credit Unions for approval.  Enniscorthy Credit Union subsequently received a response from the Registry of Credit Unions in which they identified some drafting errors in two of the rule amendments, namely to rule 98(2)(c) and Rule 99(3)(a).  As a result the Registry did not approve these specific proposed amendments.

These two amendments are not the substantive rule amendments to allow for virtual meetings and as such they will not prevent Enniscorthy Credit Union holding virtual general meetings in the future.  They will be brought back to the members at the 2021 AGM and, if approved, they can then be re-submitted to the Registry of Credit Unions.

All of the remaining rule amendments were approved by the Registry of Credit Unions.

The purpose of this correspondence is to ensure full transparency with our members and to inform you that despite the members resolution to amend Rule 98(2)(c) and Rule 99(3)(a), it was ultimately excluded from Enniscorthy Credit Unions registration request to the Central Bank at this time.

A copy of Enniscorthy Credit Unions standard rules can be found on our website here.