All About the Annual General Meeting

What is the Meaning of an AGM

An Annual General Meeting, AGM, is a meeting of the general membership of a medical aid fund. An AGM is held once a year to conduct business on behalf of the medical aid fund. The main purpose of an AGM is to comply with legal requirements, such as the presentation and approval of the audited accounts (financial statements), election of Trustees, and the appointment of auditors for the new accounting term.

Who is the Board of Trustees?

In terms of the Rules of Heritage Health the Board of Trustees shall consist of trustees selected from the members and trustees representing the healthcare disciplines.  A Principal Officer is appointed in terms of the Medical Aid Funds Act, 1995 and who attends to the matters and responsibilities in the Act and the Rules of the Fund.

Why YOU Should Attend the AGM

You get to know the persons attending to the business of your medical aid fund including the duly appointed auditors. The auditors present a summary of the results of the previous financial year and you get the opportunity to ask questions.

You get the opportunity to vote for or ratify the Appointment of Trustees. The remuneration payable to trustees for meetings is also approved at the AGM annually.

Principal members intending to submit an Agenda point at the AGM will be able to do so when the notification of the AGM.

Invitation to Attend the AGM

You will receive an invitation confirming the date, time and venue where the AGM will be held.

It remains one of your duties to respond to this invitation confirming whether you will be attending or not.

What is a Proxy

A proxy is a vote by one person as a representative of another.

In the event where a principal member is unable to attend the AGM; such a member will be requested to sign a proxy whereby his/her voting power will be given to the Chairperson or Vice-Chairperson of the Board of Trustees to vote on his/her behalf.

Agenda Points at the AGM

Generally, the Agenda points at the AGM includes but are not restricted to the following:

  • Highlights of the year under review.
  • Summary of the Audited Financial Statements.
  • Election of the Board of Trustees, if any.
  • Appoint/Confirmation of the Chairperson and Vice-Chairperson.
  • Appointment of the Auditors.
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