BankVic Director Elections 2023: Call For Nominations

Nominations for three Director positions are called from eligible Members. The Constitution requires that Directors elected by the Members retire from office at the conclusion of the third Annual General Meeting after the Director was last elected by the Members. 

This year the retiring Directors who are re-nominating are:

• Debra Robertson, Deputy Chair of the Board, having served 6 years as a Director, will be nominating for a third and final term.
• Tony Long, having served 3 years as a Director, will be nominating for a second term.
• David Cowan, having served 3 years as a Director, will also be nominating for a second term.

The Board considers that the incumbent Directors who are nominating for re-election are all independent, given their current tenure. The Constitution provides for a maximum 9-year tenure (in total) for all Directors. 

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. 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 FRIDAY 30 JUNE 2023. 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, and a recent passport sized photograph.

In accordance with the Constitution, if more nominations are received than positions falling vacant, a vote will be conducted by online and postal ballot. The results will be declared at the Annual General Meeting on 14 November 2023.

Important Notice To Candidates

BankVic 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.

Candidates 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 BankVic, nominees will be required to meet with the Nominations Panel to assess their fitness and propriety to be a Director. This will occur prior to the election process.

Candidates required to meet with the Nominations Panel 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.