Australian Business Council AGM

The Australian Business Council (ABC) will hold its Annual General Meeting (AGM) at 6.30 pm on Thursday, 7 March 2024. The AGM gives our Chair, Naim Maadad, along with the Executive Board, the opportunity to share with you what has been achieved over the past year as well as projects and developments planned for the year to come. It will detail some of the key areas and services that we have been evolving and improving on for our members.

What is the ABC Executive Board, and What Does it Do?

Currently, the Executive Board consists of up to 10 elected members who serve a two-year term. Board members are required to attend monthly Board Meetings and act as advocates of the Australian Business Council and its Members. They support the activities of the Council and engage with the membership to build enduring relationships and resilient support structures to further Australian business, Australians in business, and strengthen links across the community both in Dubai and further afield. Board roles, including Chair and Vice Chair, are elected by the elected board members at the first board meeting.

A resolution is being put forward at the upcoming AGM to implement new Articles of Association in line with updated requirements from the Dubai Chamber of Commerce (see below). These changes will alter the makeup of the ABC Executive Board.

Notice of Special Business at this AGM - Implementation of new Articles of Association

Background

1. The Dubai Chamber of Commerce is implementing a statutory scheme for all business groups and councils to replace their existing constitutional documents with Articles of Association that conform to the Chamber's template. Minor variations are permitted to suit the needs of individual groups and councils.
2. Objectives of the Chamber's new requirements include: stronger governance; greater representation of businesses; more transparency in management; better controls over funds held and dispersed and, for example, mandating an independent audit function with maximum term of 6 years.
3. Your board has been in negotiations with the Chamber for over 9 months and has settled an agreed form of Articles of Association (AoA) that is in the best interest of our members.

Features include the maximum number of board directors being 9; minimum 50% of board directors should be representative of businesses in Dubai; board directors should have business experience where possible; board positions will be reduced to (max) 9; generally directors should not serve for more than two terms (of two years each term), a quorum of members vote to approve a longer period.

1. A copy of the new AoA can be found here​. It is currently with the Chamber for final approval.
2. The Board is seeking members at this Annual General Meeting to approve resolutions that will allow the Board to implement the new AOA when it is approved and issued to the Council shortly but after this AGM.

Following the AGM, there will be networking drinks at the StudioOne Hotel.

Click here​ for the proxy form for those members who cannot attend but would still like their vote to count via another member at the meeting.