President and Board Director Elections 2023
In accordance with the MAV Rules 2022, the elections for MAV President and the 10 regional Directors of the MAV Board were held on 3 March 2023. The method of voting was postal.
The President is elected at large, and the regional Board Directors are elected by the MAV delegates within each region.
The Victorian Electoral Commission was engaged as the Election Manager.
Fit and Proper Person Policy
The MAV, as a holder of an Australian Financial Services Licence (AFSL), must meet certain requirements of the Corporations Act 2001 (Cth). Relevantly, MAV’s officers must meet the fit and proper requirements as set out in that Act and the relevant regulatory guidance of the Australian Securities and Investment Commission.
MAV Board members are captured as officers which meet the definition of the Corporations Act.
The MAV Rules 2022 include a requirement for a Fit and Proper Person Policy to be adopted by the MAV Board to ensure consistency between the AFSL obligations of the MAV and the rules around the eligibility of Board members.
Under the MAV Rules a person elected to be President and each Director of the Board do not take office and are not entitled to any allowances until they have been confirmed as meeting the eligibility criteria as detailed in the Fit and Proper Person Policy.
The Fit and Proper Person Policy, which includes details about the eligibility criteria which apply to MAV Board members, is provided below.
A fact sheet about the Fit and Proper Person Policy is also provided below.