3 AUGUST 2006

NEW ZEALAND GAZETTE, No. 91

2717

A member who has reached the age of 60 years and has a combined age plus years of paid subscription amounting to 95 may apply to pay a reduced annual subscription equal to 25 per cent of the annual subscription payable by the grade of member to which the member belongs.

A member with at least five years of paid subscription who has reached the age of 55 years and has retired or substantially retired may apply to pay a reduced annual subscription equal to 50 per cent of the annual subscription for the applicable grade of membership. Substantial retirement means that professional income is less than ten per cent of the pre-retirement income, and members making application for retired status will be requested to attest to this income position.

The Board has complete discretion in approving the transfer of a member to either concessional or retired status and the payment of a reduced subscription. Payment of a reduced subscription will not result in any reduction in the benefits of membership.

The Board may, in special circumstances, agree to suspend the membership of a member who is not in arrears and who is suffering extreme hardship and reinstate the member without payment of any fee when the hardship has ceased.

28. Annual subscriptions shall be payable by 1st January each year. Any member elected on or after 1st July of any year shall pay the prescribed entrance or transfer fee and half the annual subscription for that year.

29. Any member whose subscription is three months in arrears shall not be entitled to vote, participate in any activities of The AusIMM, receive publications or sign any reports implying membership of The AusIMM until such subscription is paid.

The Board may remove the name of any member whose subscription is six months in arrears from the Register. The member may be restored to membership on payment of arrears of subscriptions or of a reinstatement fee as determined by the Board.

THE BOARD

30. It shall be the duty of the Board to provide for the proper conduct of the business of The AusIMM and provide every possible means for the advancement of the interests and objectives of The AusIMM. The Board shall be empowered to make rules within the scope of the Charter and the By-Laws for the carrying out of the business of The AusIMM.

Any difference of opinion arising with regard to the By-Laws and their interpretation shall be submitted to the Board, whose decision shall be final.

31. There will be a Board of nine (9) Directors, plus the President and the immediate Past President if not currently elected members of the Board.

The Board shall meet as often as the business of The AusIMM may require, but not less than six times per year. A quorum shall consist of five members of the Board. In the absence of a quorum the meeting shall be adjourned, notice of such adjourned meeting being issued to members of the Board, and the business listed for such adjourned meeting may be dealt with by members present at the resumed meeting. When a resolution is passed at an adjourned meeting of the Board or any Committee of the Board the resolution shall for all purposes be treated as having passed on the date on which it was in fact passed and not on any earlier date.

The Board, and all other Committees of The AusIMM may conduct meetings, either wholly or partly, by using any appropriate means of communication, including video link and telephone conferencing, or the like, in "real time", with votes being able to be cast in this manner.

32. PRESIDENT. The President of The AusIMM shall be elected annually from the Board of Directors by the Congress. The President shall hold the office for one year and may be re-elected for the succeeding year but shall then not be eligible for re-election as President until after an interval of one year.

If the office of the President becomes vacant, the Board shall elect a successor from among the existing Directors for the unexpired portion of the term.

A President elected under By-Law 32 to fill a vacancy during a Presidential term shall be eligible for re-election for both the succeeding year and the next.

The payment of an honorarium to the President is at the discretion of the Board.

33. ELECTION AND RETIREMENT OF DIRECTORS.

(a) Subject to By-Law 38:

(i) Directors shall be elected for a term of three years; and

(ii) No Director may serve more than two successive complete terms of three years, but a Director appointed to complete a term following a casual vacancy may serve two further terms after completion of the term in which the casual vacancy occurred.

(b) In the event of insufficient nominations being received for the vacancies in any year, the Board will use all reasonable endeavours to obtain nominations prior to the election.

34. The Directors to retire at the end of any year shall be those Directors who have served for a period of three years since their last election, or who have completed, after appointment to fill a casual vacancy, the unexpired portion of that term.

35. Only Corporate Members may be nominated to the Board.

36. (a) Directors shall be elected prior to November of each year by postal ballot by all Corporate and Company Members entitled to vote, but shall not take office till 1st January of the following year.

(b) All vacancies which arise pursuant to By-Law 34 shall be filled at the annual election.

37. Any Corporate Member may nominate a candidate for the position of Director provided that the nomination has written support of at least three other Corporate Members in the prescribed form as the Board from time to time determines. The nomination must be in writing and endorsed by the person nominated, and must be in the hands of The AusIMM not later than 1st August. The AusIMM shall, not less than forty (40) days before the date fixed for the closing of the ballot, post to every Corporate and Company Member, a list of all nominations received.

38. Any vacancy in the office of a Director shall be filled for the unexpired portion of the term by the candidate at the preceding election who received the next highest number of votes, or if there is no such candidate, by the Board.

39. Any member of the Board who is unable to attend a meeting of the Board as defined in By-Law 31, shall be permitted an absentee vote, but an absentee vote must be in writing and received prior to the meeting or at the meeting.