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Nomination To Office
For Year 2010/2011
The mandatory
amendments
to our co-operative by-laws to
ensure they are consistent with the provisions of the
Co-operative Act
1993
(Amendments 2007) was passed at the 77th Annual General
Meeting held
on 23 March 2009 and had been duly registered with the Suruhanjaya
Koperasi
Malaysia on 31 July 2009.
Subsequent to
the amendments, Article 36(1)
states, “ One
third (1/3) of Board members have to vacate their posts by rotation at
the
Annual General Meeting every year. "
However, under
the old by-law, the Chairman and
Vice-Chairman will serve for a period of 2 years with a maximum of 3
terms
while Directors will serve for a period of 3 years with a maximum of 2
terms.
Therefore, in
order to comply with the requirement of the
said Article 36(1) of the by-law, Chairman Dato’ Tan Gin Soon has
consented to
step down immediately after the conclusion of the 78th
Annual
General Meeting. However , he will be eligible to seek re-election.
This
arrangement was done in consultation with Suruhanjaya Koperasi Malaysia, Penang
and was assured that it was acceptable and proper.
The schedules
below complete the retirement of 1/3 of the
Board members by rotation each year in compliance with Article 36(1) of
the
Co-operative by-law.
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