1. The EA Annual General Meeting lapsed. Why did it lapse?
The EA AGM lapsed when a quorum could not be formed. 

This means there was not enough voting members in attendance or registered by proxy to form a quorum under the requirements of the EA Constitution. 

Currently the required 5% of the EA membership equates to approximately 820 voting members and only 654 voting members attended the meeting either in person or by proxy resulting in a shortfall of 166 to form a quorum.

 2. What happens now that the adjourned meeting has lapsed?

With EA unable to form a quorum at the meeting, the ‘Special Business Notice of Motion’ to amend Rule 4.1 and 5.2 of the EA Constitution, granting Equestrian Northern Territory equal voting rights as those held by other State Branches, also lapses.

3. Can this motion be submitted at a later date?

Yes. Clause 14 and 15 of the EA Constitution respectively outlines how a meeting to amend the EA Constitution can be convened and who can submit a Notice of Motion.

The EA Constitution can be found here

4. Can EA still meet its regulatory obligations?

Yes. EA has fulfilled all obligations outlined in the EA Constitution and the Corporations Act (Cwlth 2001) and can proceed to lodge its audited financial statements and 2019 AGM minutes with the Australian Securities and Investments Commission (ASIC).

5. Does this affect EA’s ability to exit Voluntary Administration?

No. The lapse of the EA AGM does not affect EA’s ability to exit Voluntary Administration. 

EA are currently working towards finalising all requirements necessary to secure a handover by KordaMentha to the newly appointed EA Board.

Do you have further questions about the AGM process?

Please email [email protected] with your name, State and membership number and any other questions you have about the AGM process.