what is the significance of member voting rights?
Members of Business NSW who have voting rights (Voting Members) are entitled to:
- vote on any resolution put to a general meeting of Business NSW’s members. Resolutions that require member approval include a resolution to change the company’s name, amend the company’s constitution or remove a director;
- vote in any election for Business NSW’s Council and, if they are domiciled in New South Wales, any election for their applicable Regional Council; and
- if elected, hold a position within Business NSW’s governance structure. That is, a Voting Member's appointed representative is eligible to be elected to:
- their relevant Regional Council (if the Voting Member is domiciled in New South Wales);
- Business NSW’s Council (which elects the majority of the Board and the President and Vice-President of Business NSW); and
- Business NSW’s Board.
Voting rights are significant because they give members (through their appointed representatives) the opportunity to influence how the company is managed (through the election of councillors and directors) or participate in the management of the company by being elected to the Board.
Which members have voting rights?
Only those members in a membership class that the Board of Business NSW has determined carries voting rights are deemed to be Voting Members.
Members in each of the following membership classes have voting rights:
- Association Bronze, Silver and Gold
- Corporate IR Advisor
- Corporate Connections
- LCC Alliance Partners
- Business Networker
- Business Workplace
A Voting Member will lose their right to vote if any membership fees they are required to pay are overdue by more than 60 days. Ongoing suspension of voting rights may result in the representative of a member who holds a position within the governance structure of Business NSW being removed from that position.
How many votes does a Voting Member have?
Each Voting Member is entitled to one vote on a resolution of members.