Older Persons Act, 2006
R 385
Mutual Banks Act, 1993 (Act No. 124 of 1993)Chapter IV : Administration of Mutual Banks44. General meetings |
| (1) | A general meeting of the members of every mutual bank shall be held within four months after the close of every financial year of the mutual bank in order that its financial position, the financial statements and auditor's report referred to in section 43 and the report of the board may be considered and dealt with, directors may be elected and general business may be transacted. |
| (2) | The meeting in question shall be designated the annual general meeting and shall be held at the head office of the mutual bank or at such other convenient place and at such time as may be prescribed by its articles. |
| (3) | A special general meeting may be convened by three or more directors and shall be convened by the board upon receipt of a requisition signed by one hundred members or, if the membership is less than one thousand, by not less than one-tenth of the whole body of members or such smaller number or proportion of members as the articles of the mutual bank may prescribe. |
| (4) | If within 14 days after the receipt of such a requisition a special general meeting of the mutual bank is not convened by the board, it may be convened by the requisitionists or a majority of them. |
| (5) | Notice of annual and special general meetings of a mutual bank shall be given to all members, and to the Registrar and the auditors of the mutual bank in the form and manner prescribed by the articles, and shall specify the day, hour and place and the objects of the meeting, and shall if any alteration or rescission of or addition to the articles is intended to be proposed, contain a copy of every such alteration, rescission or addition: Provided that in the case of the intended adoption of a new set of articles it shall be sufficient compliance with the foregoing provisions of this subsection and with any provision in the articles of a mutual bank if the notice of the meeting contains a statement to the effect that copies of the proposed new articles are available for inspection at every branch office and agency of the mutual bank and available to members on request. |
| (6) | The period of notice of any annual or special general meeting shall be not less than 21 days. |
| (7) | Every mutual bank shall cause minutes of all proceedings of annual or special general meetings to be entered in one of the official languages of the Republic in one or more books kept for that purpose. |
| (8) | The secretary of the mutual bank shall transmit to the Registrar a copy of the minutes of the proceedings of any annual or special general meeting, certified by himself and two directors, within 14 days after the meeting, regardless of whether the minutes have or have not been confirmed, and if at any time any alteration of any such minutes is approved, shall transmit to the Registrar a copy of the minutes so altered, certified as aforesaid, within 14 days after the date on which the alteration was approved. |
