The TIC held an Extraordinary General Meeting at the Kowloon Shangri-la Hotel yesterday (23 August) to consider and, if deem fit, to pass the following as Special Resolutions of the TIC:

Special Resolution I:

“That the alterations to the Articles of Association as marked under the Appendix, other than those alterations to Articles 45(1)(c), 46(3)(e), 46(6), 50(2)(c)(i), 50(2)(e) and 50(3), the addition of a new Article 50(2)(f) and the renumbering of the original Article 50(2)(f) as Article 50(2)(g) as set out in Special Resolution II & Special Resolution III below, be adopted and take effect on the date on which all provisions of the Travel Industry Ordinance (Cap. 634) come into operation, and the Articles of Association be re-numbered accordingly.”

Special Resolution II:

“That the alterations to Articles 46(3)(e) and 46(6) as marked under the Appendix, which change the term of office of the Chairman from three years to two, be adopted and take effect from the first Chairman’s election conducted after passing of the resolution; and the Articles of Association be re-numbered accordingly.”

Special Resolution III:

“That the alterations to Articles 45(1)(c), 50(2)(c)(i), 50(2)(e) and 50(3) with a new Article 50(2)(f) added and the original Article 50(2)(f) renumbered as Article 50(2)(g) as marked under the Appendix, which change the frequency of holding the Directors’ elections from every year to every other year, be adopted and take immediate effect; and the Articles of Association be re-numbered accordingly.”

According to the auditor’s report, votes in favour of Special Resolution I accounted for 68.53%, votes against Special Resolution I accounted for 26.76%, abstention and void votes accounted for 2.94% and 1.76% respectively; votes in favour of Special Resolution II accounted for 71.18%, votes against Special Resolution II accounted for 23.53%, abstention and void votes accounted for 2.94% and 2.35% respectively; while votes in favour of Special Resolution III accounted for 68.53%, votes against Special Resolution III accounted for 25.88%, abstention and void votes accounted for 3.24% and 2.35% respectively

The above three resolutions were not passed as less than 75% of the votes were cast in favour of them. The Board will present proposals on amendment of the M&A again for members' consideration in due course.