General Overview

The Mortgage & Finance Association of Australia (MFAA) Constitution provides that the MFAA Board shall comprise five Directors elected by members eligible to vote and other Directors appointed by the MFAA Board, up to a maximum of ten Directors. This is subject to a number of requirements regarding the composition of the Board including (among other requirements) that:

  • the Board must include five Directors elected by Voting Members;
  • at least four of the Directors elected by members must be 'Eligible Brokers' (i.e. a Full Member who is an individual operating as a loan writer; or the Nominated Representative of a Full Member which carries on a broking business) - unless there are insufficient nominations;
  • 'Eligible Brokers' must constitute the majority on the Board;
  • no more than two of the five Directors elected by the Voting Members may have their principal place of residence in the same state or territory of Australia at any one time; and
  • no more than one Director, whether a Director elected by the Voting Members or an Additional Director, can be associated with or represent the interests of any one organisation or organisational group. [This does not include brokers using the same aggregator]

A Director elected by members will be elected for a three-year term and the Board is structured so that some elected Directors must retire each year by rotation and may be eligible for re-election. In accordance with the Constitution, Kathryn Harrison and Sarah Wells will retire and are eligible to stand for re-election.

Accordingly, the MFAA is calling for nominations for two Directors.

You are encouraged to either stand yourself or nominate another member to stand for election this year and ensure members are appropriately represented by a high quality, knowledgeable Board.

Nominations are now open and will close at 5.00 pm (AEDT) on Monday, 18 October 2021.

If there are more candidates than vacant positions on the Board, an online election will be held commencing Tuesday, 26 October 2021.

Further information will be provided to Members at the time if an election is called.

Board Nomination / Elections 2021

Key Dates

Item Date
Call for nominations Friday, 1 October 2021
Nominations close Monday, 18 October 2021 at 5.00pm (AEDST)
Ballots open (if Election is called) Tuesday, 26 October 2021
Voting closes Thursday, 11 November 2021
Results announced Wednesday, 17 November 2021
Annual General Meeting Thursday, 18 November 2021 at 5.30pm (AEDST)

 

Information for prospective candidates and Voting Members.

A guide has been designed to assist members to understand the process of an election of Directors to the Board of the MFAA.

MFAA Board Election Guide

Summary of eligibility for making nominations and to be a candidate for nomination

Who can make a nomination? Who can be nominated?

Any Full Member (or their Nominated Representative) or Life Member in good standing for at least five consecutive years up to the date of nomination (three nominators are required).

Any Full Member (or their Nominated Representative) or Life Member in good standing for at least five consecutive years up to the date of nomination.

NB: Not eligible if member subscription is 2 months in arrears as at 18 October 2021. The candidate must meet the requirements set out in the MFAA Board Director Skills Competency Matrix circulated with the Nomination Form.
  NB: Not eligible if member subscription is 2 months in arrears as at 18 October 2021.

Where the Full Member is a company or business, participation in meetings and proceedings of the Association is exercised by the 'Nominated Representative' appointed by the company/business as recorded in MFAA's Register of Members.

What is the Nominating Process?

It is a requirement for nominations to be valid that the nominators complete, sign and return the following forms and material by 5.00 pm (AEDT), 18 October 2021 (Close of Nominations) (note that these are PDF forms, please save to your computer, complete and forward):

a) Nomination Form, including the signed consent of the candidate being nominated and any other material required by the Nomination Form;
b) MFAA Board Candidate Information and Director Skills Competency Matrix;
c) A ‘Bio’ or statement summarising the candidate’s suitability for the role as a director (max 250 words); and
d) Provide a current professional headshot photo of the candidate.

 

Note: Nominations will not be accepted after the Close of Nominations nor can defective nominations be corrected after the Close of Nominations.

See the MFAA Board Director Skills Competency Matrix circulated with the Nomination Form for full details of the requirements of Board membership and submit your nomination with these to the Company Secretary preferably to the following email address or alternatively to the postal address below:

Email:

nominate@mfaaboard.com.au 

Post:

The Company Secretary
Mortgage & Finance Association of Australia
GPO Box 144

Members are encouraged to use the email facility to minimise any delay in consideration and acceptance. Nominations will be acknowledged as soon as this is practicable and, in any case, within one business day. Candidates must ensure that their nominations are valid.

The MFAA is under no obligation to notify candidates (or their nominators) of any defects in their nominations before the Close of Nominations. Nominations will not be accepted after the Close of Nominations nor can defective nominations be corrected after the Close of Nominations.

Results of the election will be announced at the 2021 Annual General Meeting on Wednesday, 17 November 2021.

Members are encouraged to stand for election and to collaborate with other enthusiastic Directors to help make a difference in determining the future of the Association.

Donna Beazley
Chair
Mortgage & Finance Association of Australia