In accordance with clause 13.8 of the Police Financial Services Limited Constitution, two Director positions fall vacant this year:

  • Steven Coulson will be retiring from the Board in November 2022, having served the maximum tenure of 9 years.
  •  The Chair of the Board, Lucinda Nolan, will be nominating for re-election for an additional term of 3 years.

In accordance with clause 13.3 of the Constitution, the Board has decided to appoint a Director with experience in retail banking and financial services to the Board. 

Therefore, ONE Director position is available for election in 2022.

Nominees must be eligible members under clause 13.2 of the Constitution.  Nomination Forms must be signed by two eligible members who comply with the requirements of clause 13.2 of the Constitution. 

If you wish to nominate for this position, please contact the Returning Officer to obtain a copy of the Nomination Form:

RETURNING OFFICER:

MR TIM JONES

CORPVOTE PTY LTD, PO BOX 2432

FITZROY VIC 3065

EMAIL: nominations@corpvote.com.au

PHONE: 1300 428 082 or (03) 8060 5823

 

Nominations and candidate declarations must be lodged with the Returning Officer no later than 12PM ON THURSDAY 30 JUNE 2022.

Members nominating for the election are invited to submit a personal summary, with supporting information to the Returning Officer.

The personal summary may contain:

  • a personal statement of not more than 100 words
  • a recent passport sized photograph

 

In accordance with clause 2 of Annexure 2 of the Constitution, if more nominations are received than positions falling vacant, a vote will be conducted by electronic ballot, postal ballot, or a combination of both.

The results of the election will be declared at the Annual General Meeting in November 2022.

 

IMPORTANT NOTICE TO CANDIDATES

Police Financial Services Limited is an Authorised Deposit-taking Institution (ADI) regulated by the Australian Prudential Regulation Authority (APRA).

As such, strict standards are in place to ensure the safety of members’ deposits. 

The supervision by APRA, combined with the provisions of the Corporations Act 2001 as administered by the Australian Securities and Investments Commission (ASIC), results in Directors assuming legal responsibilities relating to many aspects of the organisation.

APRA requires candidates for Director positions, incumbent Directors and other responsible persons of ADIs to comply with rigorous standards relating to their fitness and propriety to undertake and/or remain in such roles.

All nominated candidates will be required to provide personal information that satisfies the criteria relating to such standards prior to being able to stand as a candidate for election.

Such standards include, but are not limited to skill, knowledge and competence; character; diligence; honesty; integrity and judgement to perform the duties of a Director of an ADI. APRA’s Prudential Standard CPS 520 dealing with Directors’ fitness and propriety is available at www.apra.gov.au. 

The Board is committed to high standards of corporate governance – this includes a commitment to diversity, and to ensuring the Board collectively has the range of appropriate skills and experience, including in finance, governance, strategy or risk.

Persons both nominated and elected may be required to provide further information or undertakings. Those persons elected will be required to actively participate in a continuous professional development program to a level that satisfies APRA requirements to remain a Director of the organisation.

Nominees are strongly encouraged to forward their nominations and complete the requisite information requests, at the earliest possible time. Unless an assessment of fitness and propriety in accordance with APRA standards has already been made by Police Financial Services Limited, nominees will be required to meet with the Nominations Committee to assess their fitness and propriety to be a Director. This will occur prior to the election process.

Nominees required to meet with the Nominations Committee must provide relevant information beforehand as requested by the Nominations Committee, including a CV with covering letter briefly addressing the criteria nominated in APRA’s Prudential Standard CPS 520.

 

BY ORDER OF THE BOARD

APRIL 2022