FUNDS APP 2 FUNDS APP 2 MEETING PROCEDURES
FUNDS A2.1 FUNDS A2.1 Nomination of a chair
FUNDS A2.1.1(1) A Fund Manager of a Public Fund or, in the case of a Public Fund which is structured as an Investment Trust, the Trustee, must nominate in writing a Person to be the chairman of a meeting of Unitholders and such a Person must be a Unitholder other than the Fund Manager.(2) If no such chairman is nominated or if at any meeting the Person nominated is not present within 15 minutes after the time appointed for holding the meeting, the Unitholders present must choose another chairman.(3) In the case of an equality of votes cast whether on a show of hands or on a poll in respect of a resolution put to a meeting of the Unitholders, any chairman appointed in accordance with the Constitution or under these Rules is entitled to a casting vote in addition to any other vote the chairman may have.
Notice of meetings
FUNDS A2.1.2(1) Unitholders of a Public Fund must be given at least 14 days written notice or any longer period of notice specified for the purpose in the Constitution or these Rules, inclusive of the date on which the notice is first served and the day of the meeting.(2) The notice must specify the place, day and hour of the meeting and the terms of the resolutions to be proposed.(3) In the case of an Investment Trust, unless the Trustee has convened the meeting, a copy of the notice must be sent to the Trustee no later than the time at which it is sent to the Unitholders.(4) The accidental omission to give notice to, or the non-receipt of notice by, any of the Unitholders does not invalidate the proceedings at any meeting.(5) Notice of any adjourned meeting of Unitholders must be given to Unitholders and, if relevant, to the Trustee.
FUNDS A2.1.3(1) In the case of a Public Fund, the quorum at a meeting of Unitholders is the Unitholders present in person or by proxy or, in the case of a body corporate, by a duly authorised representative, of one-tenth in value or any proportion more than one-tenth in value specified for this purpose in the Constitution of all the Units in issue.(2) Business must not be transacted at any meeting unless the requisite quorum is present at the commencement of business.(3) If within half an hour from the time appointed for the meeting, a quorum is not present, the meeting:(a) if convened on the requisition or request of Unitholders, must be dissolved; and(b) if any other case, must stand adjourned to:(i) a day and time which is seven or more days after the day and time of the meeting; and(ii) a place to be appointed by the chairman if a chairman has been appointed in accordance with the Constitution or otherwise by the Fund Manager or Trustee as the case may be.(4) If, at an adjourned meeting under (3)(b), a quorum is not present within 15 minutes from the time appointed for the meeting, one person entitled to be counted in a quorum present at the meeting is a quorum.(5) Notice of any adjourned meeting of Unitholders must be given to Unitholders. That notice must state that one or more Unitholders present at the adjourned meeting whatever their number and whatever the number of Units held by that Unitholder or Unitholders will form a quorum.
FUNDS A2.1.4(1) No Fund Manager, or other member of the Governing Body of the Fund is entitled to be counted in the quorum of, and no Fund Manager or other member of the Governing Body of the Fund nor any associate of such a Person is entitled to vote at, any meeting of the Fund.(2) The prohibition in (1) does not apply to the exercise of voting rights attaching to any Units which the Fund Manager or other member of the Governing Body of the Fund or its associate holds on behalf of, or jointly with, another Person who is not subject to the prohibition in (1) and from whom the Fund Manager or other member of the Governing Body of the Fund or its associate, as the case may be, has received voting instructions.(3) Therefore, for the purpose of Rule, Units held, or treated as held, by any Fund Manager or other member of the Governing Body of the Fund, must not, except as mentioned in (2), be regarded as being in issue.