Just some more information about the SMSF Owners Alliance. I joined as a principal voting member and will try to help them in their endeavor to become a truely independent national representative body. Their board members are worth Googling as they all have extensive C.V's
MEMBERSHIP GUIDE AND RULES
SMSF Owners' Alliance Limited ("SMSFOA") was established to advocate for and to
promote only the interests of self managed superannuation funds ("SMSFs").
SMSFOA is a not for profit company. Its members do not receive dividends because any
profits must be used to promote its objectives. Its members must contribute $10, but no
more, if it is liquidated with a shortfall of assets.
SMSFOA is open to membership by trustees and beneficiaries of complying SMSFs. These
owners can choose between a Principal Membership and a General Membership.
A Principal Member is a more involved member, who may attend and vote at general
meetings, pays a higher entrance fee and may, if s/he wishes, help SMSFOA in its
endeavours.
A General Member is a supporter of SMSFOA's objectives and pays a lower entrance fee.
All Members may attend an annual information meeting. All Members also receive regular
updates of activities by email and have access to information on a members only section of
SMSFOA's website.
Governance
SMSFOA has a board of directors, which oversees the Executive Director, but is more
involved in ongoing business than would be the case with a for profit public company.
Currently, it has six directors:
Bruce Edward Foy, Chairman
Malcolm Brian Clyde, Finance Director
William Duncan Fairweather, Executive Director and Secretary
Clive Horace Craven
Barry John McWilliams
David John Rohr
Directors must be Members. One third of the Board retires at the end of the first, second and
third years, but may be reappointed by the Board at the end of their term for a further term
determined by the Board. However, appointment of directors is subject to confirmation by
Principal Members at the next Annual General Meeting following their appointment.
The Board has determined to audit SMSFOA's accounts and submit them to the Annual
General Meeting for approval.
Membership
Members must be either a trustee, whether individual or corporate, or a beneficiary of a
complying SMSF at all times. Should this change, membership ceases. Members must
advise the Secretary of SMSFOA promptly by email or in writing if they cease to qualify for
membership. SMSFOA also has the right to seek information from Members or third parties
to confirm Members' compliance with the Constitution and Membership Rules.
Currently, such a person or corporation may apply for membership as either a Principal
Member or a General Member. (The Board may also appoint any person to be an Honorary
Member from time to time).
Application for membership must be made on the Application for Membership Form attached
to this Guide and Rules. At the same time, the relevant joining fee and first annual
membership fee must be paid. The Application for Membership Form can be completed and
emailed to smsfoa@gmail.com, at which time it will be deemed to be dated and signed, or, it
can be downloaded, completed, signed and sent to PO Box R1490, Royal Exchange, NSW.
1225. A corporate trustee must appoint one of its directors to be its representative at
Members' meetings. The initial fees can be paid by cheque in favour of SMSF Owners'
Alliance Limited or by internet banking: SMSF Owners' Alliance Limited, Westpac Banking
Corporation, BSB # 032 002 Account # 823 285.
The Board has deemed applications for General Membership to be approved upon receipt of
a completed Application for Membership Form and payment of initial fees. For Principal
Membership, the Board or its delegate/s will review the application and advise successful
applicants within 30 days. A membership number/website password and a fee receipt will be
emailed to successful applicants. Their names and other details will be entered on the
Membership Register. Successful applicants are deemed to have nominated the email
address on their Application for Membership Form for all communications by SMSFOA, as
updated from time to time. Members must update their email address if it changes.
Invoices for annual membership renewal fees will be emailed to Members. Renewal fees
are payable by BPay or approved credit card within 30 days to remain a Member.
Members are bound by SMSFOA's Constitution and Membership Rules, as updated from
time to time. Memberships are not transferable. Membership fees are not refundable in
whole or in part due to changed circumstances. Additional levies may be made on Members,
but only after notice to Members. Members may resign at any time by email or in writing
addressed to the Secretary of SMSFOA.
All Members may attend an annual information meeting at which the activities of SMSFOA
will be advised and matters of interest discussed. No resolutions may be put to the vote at
these meetings.
Only Principal Members attend, speak and vote at general meetings. Each Principal Member
has one vote.
Audited accounts will be distributed to Principal Members and, upon written request, to
interested General Members, by email prior to the Annual General Meeting.
Membership fees
Principal Membership
Joining fee $330
Annual fee $110
General Membership
Joining fee $165
Annual fee $110
Honorary Membership
Nil
All fees include GST.
Adopted by Board on 3 December 2012.
Kind Regards
non recourse
