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MINUTES OF EXTRORDINARY ORDINARY MEETING OF EQUITABLE MEMBERS ACTION GROUP LIMITED
| Held at: |
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19:00 on 3rd August 2005 at the National Liberal Club London. |
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| Present: |
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Paul Braithwaite, Alex Henney, Tom Lake, Colin Slater. Mike Neal, Leslie Seymour, Betty McCann |
| In attendance: |
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Nicolas Bellord and 120 members |
| Apologies for Absence: |
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Chris Carnaghan, John Newman |
- Officers of the Company
Proposed by Frank Simpson, seconded by Stanley Mathews, approved unanimously.
- Appointment of General manager
After some discussion, proposed by George Callum and seconded by Stanley Mathews, approved unanimously.
- Auditor
It was resolved that Stewart Simpson FCCA be appointed auditor of the Company for the accounting period ending 30 April 2006. Proposed by Paul Braithwaite and seconded by Stanley Mathews, approve unanimously.
- Parliamentary Ombudsman
The presenter Colin Salter reported on the status of the investigation which was said to be still on track for laying its report before Parliament around the turn of the year 2005/6.
It was noted that an opinion on matters relating to the Regulators’ powers under the ICA 1982 had been commissioned from Anthony Boswood QC.
The committee answered many questions from the floor.
- Summer vacation in Court 76
Nicolas Bellord described the first 55 days in Court 76’s proceedings.
The Board thanked directors for attending Court 76 and noted it was now the summer recess. The case would restart on 19 September 2005. In the meantime efforts were continuing to obtain documents that had been mentioned in Court in order to ascertain the true position of the Society during the relevant years.
The committee answered many questions from the floor.
- European Union Position
Paul Braithwaite gave a status of the Petition to the European Parliament It will be presented to the Commission on September 13 by Tom Lake, Paul Braithwaite and Leslie Seymour. A very positive response from MEPs and the committee secretariat had been forthcoming at recent meetings.
Noted that a Counsel’s opinion on the European legal issues had been commissioned from Josh Holmes of Monckton Chambers.
Tom Lake, Paul Braithwaite and Leslie Seymour had earlier that day met with Sharon Bowles MEP. Alternative options for the path of the petition through the European Parliamentary Committees and to the Plenum for a recommendation had been explored.
The committee answered many questions from the floor.
- The Financial Ombudsman Service
Paul Braithwaite finally talked about the legal advice on the chance of success in challenging the Chief Ombudsman's decision to use his discretion not to address “Penrose-related” complaints; The Secretary is investigating alternative routes to address the FoS in relation to Equitable Life. A final summing up of the legal position was still expected from John Halford of Bindmans.
The committee answered many questions from the floor.
- AOB
No further matters were discussed. The meeting closed at 21.50
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