Durban Chamber - Message from CEO: Nominations for Directors2016-04-04 The Durban Chamber of Commerce and Industry Board and Council have resolved to convert the Durban Chamber’s statutory status from its outdated formation under Natal Law 31 of 1884 to a Non Profit Company (NPC) under the Companies Act. As such the Board has adopted the MOI.
Under the MOI the Board must be comprised of 11 directors. The current six board members will remain and will automatically be elected as part of the new board. Five additional directors must be elected. The current council will remain intact and the additional five board members will also form part of the council as do the existing six board members. A requirement under the Income Tax Act in respect of the Chamber’s PBO status is that no three directors can be connected persons in relation to each other. 15 nominations have been received and a profile of each is attached. As more than five nominations have been received, the election will be decided by a vote taken by Ordinary and Life Members. Ordinary Members or Life Members, in good standing shall be entitled to one vote and must be present in person at the Annual General Meeting. The five nominees with the highest votes shall be elected as Directors. The Annual General Meeting will take place on 7th April 2016 at 16h00 â€" 18h00, Durban Chamber Conference Centre, Lion Match Office Park, 892 Umgeni Road. |
Durban Chamber - Message from CEO: Nominations for Directors
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