Branch Policy

Branch Policy – NZ Shareholders Association

This is our Meeting Voting Policy, with effect from September 1, 2022.

Policy Principles determing the establiushment and management of branches of the NZ Shareholders Association.

This policy is referenced in our Constitution and should be available for members.

Objectives

The aims of this Policy are to set out the purpose, structure and operating requirements of an NZSA Branch.

Policy Statement

1. This policy applies from September 2022.

Branch Purpose

2. An NZSA Branch personalises the offers and other member benefits provided by the NZ Shareholders Association, acting as a local face for NZSA and its initiatives.
   
   
3. Branches do not operate independently from NZSA and are not legal entities in their own right.
   
   
4. Membership of a Branch is membership of NZSA. Branches cannot offer NZSA membership in their own right.

Branch Structure

5. The establishment or closure of an NZSA Branch can only be approved by the NZS Board.
   
   
6. There is no minimum size for an NZSA Branch in terms of membership.
   
   
7. A Branch must be managed by a Committee comprising at least 1 person (subject to clause 16 below).
   
   
8. All Committee Members of a Branch must be NZSA members.
   
   
9. All Branches, regardless of size or banking status, are subject to all NZSA Internal Policies – including (but not limited to):
   1. Delegations Policy
   2. Whistleblowing Policy
   3. Expenses and Reimbursements
   4. Membership

Branch Operations

10. The Branch may determine for itself such sufficient records and operating processes as to allow the Branch to conduct its business.
    
    
11. Branches may establish NZSA-branded events within their relevant geographic area. The content of such events is at the discretion of the Branch, but must support the overall aims of NZSA.
    
    
12. Branches are required to hold their own Annual General Meeting for the election of officers to Branch Committees.
    1. Meeting requirements, including notice periods, are as per section 17 of the NZSA Constitution.
    2. Section 17.3 of the NZSA Constitution (quorum) does not apply to NZSA Branch Meetings. Quorum for Branch Meetings is determined as the size of the committee plus 5 members.
    3. If there is no quorum, the rules set out in section 17.4 of the NZSA Constitution apply.
       
       
13. There is no requirement for an annual branch report, but a Branch may create one at its discretion.
    
    
14. Branch representatives are expected to participate in NZSA monthly operational management and reporting processes.

Financial Management

15. A Branch does not require its own bank account, although may operate one if it chooses.
    
    
16. Where a Branch has its own bank account:
    1. The account must be held within the overall NZSA Bank Account structure (currently operated by ANZ);
    2. The Branch must operate a committee of at least 2, people.
       
       
17. Where a Branch does not have its own bank account, expenses must be submitted in a timely fashion to the CEO, as per the NZSA Expenses and Reimbursement Policy.
    
    
18. Financial reporting is managed by NZSA on national basis. This includes providing a summary of Branch Annual Accounts to branches to support their Annual Meeting and/or other reporting requirements.
    
    
19. The Branch participates in annual budget and forecasting processes, and is held to those limits.
    
    
20. A Branch cannot borrow money, except on usual credit terms associated with events.

Commentary

1. The intent of this policy is to minimise the administration burden on Branch Committee members and ultimately allow the establishment of smaller local Branches to serve smaller communities.