Sentences with phrase «annual general reserves»

Not exact matches

Addressing shareholders at the company's annual general meeting in Darwin yesterday, Peter Mansell said that, with a third of the world's total undeveloped uranium reserves, the potential to expand Australian uranium mining was real.

(a) if the amount of money in the contingency reserve fund at the time of the first annual general meeting is less than 25 % of the estimated operating expenses for the 12 month period set out in the interim budget, the annual contribution to the contingency reserve fund under the first annual budget must be at least 10 % of the total amount budgeted for the contribution to the operating fund for the 12 month period covered by that budget;

(b) if the amount of money in the contingency reserve fund at the end of any fiscal year after the first annual general meeting is equal to or greater than 25 % of the total amount budgeted for the contribution to the operating fund for the fiscal year that has just ended, additional contributions to the contingency reserve fund may be made as part of the annual budget approval process after consideration of the depreciation report, if any, obtained under section 94 of the Act.

Members of the Board of Directors are elected by their local associations and are responsible for amending the association's bylaws, electing officers, approving expenditures from general reserves that exceed 10 % of the annual budget, approving the association's strategic plan, approving an increase in membership dues, and defining regional boundaries.