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EXTRAORDINARY
GENERAL MEETING
PROSPOSED CHANGE OF FINANCIAL YEAR
Our financial year ends on 30 September each
year and in accordance with the Co-operative Act and By-Law, our
Co-operative must hold the Annual General Meeting not later that 6
months after the close of our financial year, i.e. not later than 31
March of each year.
Any co-operative society or officer of the
co-operative society who fails to comply with the co-operative Act
39(1) (to hold the Annual General Meeting within six months after the
end of financial year) is considered as having committed an offence and
will, on conviction, be liable to a fine not exceeding two hundred
thousand ringgit.
Our Co-operative Accounts is normally ready
for External Auditing in the month of November each year and the
External Auditors would complete their auditing in the month of
February. Then, we need to send our accounts and reports for type
setting and printing. The Annual Reports will only be ready by the 1st
week of March to be sent to members.
The Chinese New Year normally falls in the
month of February during which the type setter and the printing firm
will close for 10 days for the Chinese New Year celebrations resulting
in the delay in printing our annual report. And as for the months of
March and April, we have problems in choosing the date for the Annual
General Meeting / Annual Dinner as it will normally clash with "Cheng
Beng" / Good Friday & Easter Day.
The Board after the consideration decided to
change our financial year from September to December and our future AGM
should be called not later than June of each year. We hope this can
solve the yearly complaints from members for not being able to attend
the AGM / Annual Dinner due 'Cheng Beng' / Good Friday & Easter Day.
To enable our Co-operative to change the
financial year, we need to call an EXtraordinary General Meeting (EGM)
to amend our By-Law and rules as required by the Act.
The Board had decided to hold the EGM on the date, time and venue as
follows:
Date
:26 June 2011
Time
:2.30 p.m.
Venue :Sek. Men.
Convent, Lebuh Light, Penang.
A travelling allowance of RM10.00 will be
paid to those who attend the EGM.
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