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As a valued member of the Australia-Korea Business Council (AKBC), the AKBC formally invites you to attend an Extraordinary General Meeting (EGM). The meeting is scheduled to take place on the 16th of April, from 3.00PM-4.00PM AEST, via Zoom.


The purpose of this meeting is to adopt a new constitution and to transfer the registration of AKBC from an incorporated association under the Associations Incorporation Act 2009(NSW) ("the NSW Act") to a public company limited by guarantee under the Corporations Act 2001(Cth) ("the Corporations Act"), in accordance with the relevant provisions of each of the NSW Act and the Corporations Act.


As a valued member of AKBC, your presence and input are highly appreciated.


Background information on the proposed resolutions:

  • AKBC is currently a New South Wales incorporated association established under the NSW Act.
  • AKBC operates throughout Australia and has a multi-national focus meaning that its continued registration as an incorporated association under the NSW Act is no longer appropriate. In addition, AKBC's existing Constitution was created in 2004 and is outdated.
  • The Board has sought and obtained legal advice as to the most appropriate structure for AKBC going forward and having regard to similar organisations operating in Australia.
  • The Board has resolved to transfer the registration of AKBC from an incorporated association under the NSW Act to a public company limited by guarantee under the Corporations Act in accordance with the relevant provisions of each of the NSW Act and the Corporations Act.
  • A new Constitution and name of AKBC will also be created and registered to effect the above.

We will also use this as an opportunity to provide an overview of AKBC's planned activities and events for the remainder of 2024, including the 45th AKBC-KABC Joint Meeting from 1-3 September in Perth.


Agenda for the EGM:

  1. Opening Remarks by the AKBC Chair Hon Martin Ferguson AM
  2. Overview of the proposed Constitution and legal structure
  3. Voting for the approval of the new Constitution and legal structure
  4. Overview of AKBC planned activities and events in 2024 by AKBC CEO Liz Griffin
  5. Closing Remarks by AKBC Chair Hon Martin Ferguson AM


A Special Resolution of the Members will be put to vote as follows:

RESOLVED by special resolution, to approve of the proposals put by the Board, such that:

a) AKBC apply to transfer the registration of AKBC from an incorporated association under the Associations Incorporation Act 2009 (NSW) to a public company limited by guarantee under the Corporations Act 2001(Cth);

b) AKBC be registered under the Corporations Act under the name "Australia-Korea Business Council Limited"; and

c) A new Constitution of AKBC be adopted as has been provided to the Members, including the liability of each of the Members (guarantee) not exceeding $20.00.


Eligibility and voting rights

All current members of the AKBC are eligible to vote, with each member having one vote. Members may appoint a proxy to vote on their behalf. The Special Resolution as set out above will be passed if it is supported by at least three-quarters of the votes cast by members who are entitled to vote on the proposed resolution.


Thank you for your continued support and commitment to the success of AKBC. We look forward to your participation at the EGM. If you have any questions about any of the contents above, please contact Liz Griffin at lgriffin@akbc.com.au

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