Voting for AGM has now closed
Voting for AGM Motions for Resolutions and Director Election closed as of 24:00 Wednesday 22 May. Results will be announced at the Annual General Meeting on Wednesday 29 May, 5:30am in our Sydney office – Level 3, 60 York Street, Sydney.
Voting for AGM has now opened
Voting Members are invited to cast their vote for both the Director Elections and the Motions for Resolution. Instructions on how to vote were sent to each voting Member via their registered email address provided to the Australian Property Institute, along with their unique login details.
If you are a voting Member and have not received your invitation to vote, please contact our friendly Membership team to check your registered details are correct.
For reference, the Voting platform can accessed via:
Meeting link: https://web.lumiconnect.com/329620434
Meeting ID: 329-620-434
Voting opened at 9:00am AEST today, Monday 13 May, and concludes Wednesday 22 May at 11:59pm AEST.
Voting Instructions for the AGM
Voting for the Director Election and Motions for Resolutions for the Annual General Meeting, opens Monday 13 May at 9:00 AEST and closes Wednesday 22 May at 11:59pm AEST.
Instructions on how to vote will be emailed to all voting Members of the API prior to voting opening on Monday 13 May. This year, voting will be conducted via the LUMI Global Conference Services platform.
Notice of Annual General Meeting
Notice is hereby given that the 2024 Annual General Meeting of the Australian Property Institute Limited (ACN 608 309 128) will be held at the Australian Property Institute Head Office, Level 3, 60 York Street Sydney, NSW 2000 and via LUMI Global Conference Services on Wednesday 29 May 2024 at 5:30 pm. Electronic voting to be conducted via the LUMI Global Conference Services platform.
Items of Business
The purpose of the AGM is to consider the following business:
- Minutes of previous AGM
To adopt the Minutes of the Annual General Meeting held on Wednesday, 31 May 2023 via Microsoft Teams. The minutes of the 2023 Annual General Meeting are attached below in the Attachments section. - API Reports
To receive and consider the:
(a) Annual Report in respect of API Ltd and its controlled entities;
(b) Auditor’s Report; and
(c) Financial Report,
for the 12-month period ended 31 December 2023. The Australian Property Institute Limited’s Annual Report is published on the API website at Annual Reports – Australian Property Institute (api.org.au) - Election of Directors
To announce the results of the election of Directors.
Voting Methodology
As there are more nominations than vacant positions to be filled for this year’s director nominations, the election is to be conducted in accordance with clause 9.3 of API’s Constitution. Meaning, the election is to be held via a ballot (electronically).
The four nominees who receive the highest number of votes will be elected to fill the four vacant positions. Practically, this means it is a ‘first past the post’ method. If any of the nominees are ranked in the top 3, by number of votes, but are subsequently disqualified by reason of clause 8.1, meaning their election will result in three directors residing in the same State, they will be excluded and replaced with the nominee who receives the next highest number of votes. There is no need to re-conduct the ballot and exclude that person from the election. This same method will be applied until there are three nominees that are not excluded by clause 8.1. We confirm there is no preferential voting. - Resolutions
To announce the results of the following motions set out in the attached Notice of Motions.- Motion 1 (ordinary resolution): That the Australian Property Institute Limited agree to appoint PKF as the Auditor.
- Motion 2 (ordinary resolution): That the Australian Property Institute Limited agree that the annual Board remuneration pool be set at $350,000 from 1 July 2024.
- Motion 3 (ordinary resolution): That the Australian Property Institute Limited agree that the annual Board remuneration pool will increase by the Wage Price Index on 1 July of each year, commencing on and from 1 July 2025 if Motion 2 is passed or otherwise commencing from 1 July 2024 if Motion 2 does not pass.
- Motion 4 (ordinary resolution): That the Australian Property Institute Limited and its Directors do all things necessary to give effect to the above resolutions following the passing of the resolution.
- Other Eligible Business
To deal with any other business which is brought forward in conformity with Australian Property Institute Limited’s Constitution
Voting will open Monday 13 May 2024 at 9am and close Wednesday 22 May 2024 at 11:59pm.
Further Information
Past Information
Call for Nominations
Elected Director
Closing Date: 19 April 2024 (5:00PM AEST)
In accordance with Clause 9.2 of its Constitution, and the Nominations Policy, the Australian Property Institute Limited (the API) is calling for nominations for its Board of Directors to fill four (4) vacancies.
In accordance with Clause 9.1 of the Constitution all financial Voting Members of the API are eligible to nominate for vacant Board positions in 2024.
Nominations must comply with Clause 9.2 of the Constitution and the Nominations Policy.
In accordance with Clause 9.2 of the Constitution and the Nominations Policy, an API Member must be nominated by another Member to fill a vacant Elected Director position that is to be the subject of an election at the Annual General Meeting (AGM).
Please note that those nominating a candidate and the nominees must be financial Voting Members of the API.
In accordance with Clause 8.5(j) of the Constitution, four (4) of the Elected Directors will retire from office as follows:
- Bart Mead
- Andrea Carolan
- Gavin Hulcombe
- Scott Chapman
The API’s Nominations Committee will consider all Nominees and will recommend to the Board, in accordance with Clause 9.2 and the Nominations Policy, those candidates meeting the appropriate qualities and skill sets required by the Board.
Note that in accordance with Clause 8.1 of the Constitution there can be no more than two (2) Elected Directors who reside in the one State or Territory.
Call for Nominations Form
Responsibilities of the Board of Directors
The Board of Directors governs the API and has the overall responsibility for setting the strategic direction of the organisation. It is also responsible for the financial sustainability of the API.
All Board members are required to act in accordance with the Constitution, the API Board Charter, the AICD Guiding Principles of Good Governance and Not-for-Profit Governance Principles and any other relevant API Policies.
In accordance with Clause 7.1 of the Australian Property Institute Assets’ (APIA) Constitution, API Directors will also be Directors of APIA. In accordance with Clause 12.1 of the Australian Property Research & Education Fund (APREF) Constitution API Directors will also be Directors of APREF. In accordance with Clause 8.1(a) of the Australian Property Institute Valuers Ltd (APIV) Constitution, API Directors will also be Directors of APIV.
To view a copy of the API’s most recent annual report click:
Annual Report
Format of Application
All applications must consist of the following:
- A completed API Nominations Form, with the signatures of two (2) eligible nominators and the nominee;
- a current high resolution ‘passport style’ photograph; and
- a Candidate Statement – not exceeding 600 words. The candidate statement must provide details of the nominee’s history with the API, reasons for nominating for the Board position, address any particular competencies being sought by the Committee, personal qualities that would contribute to the Board and details of any actual, perceived or potential conflicts of interest. The candidate statement will be subject to reformatting for distribution.
All completed nominations are to be submitted to:
The Nominations Committee
C/- the Company Secretary
Level 3, 60 York Street, Sydney NSW 2000
OR
The nomination must be received by no later than 5:00pm (AEST) on Friday, 19 April 2024.
