The Board of Directors is proposing to make changes to TLC’s bylaws. In order to make these changes, we are notifying all Members in advance of an Extraordinary General Meeting as per our bylaws and the Society Act.
Justice Fitzpatrick has recently approved the Plan of Compromise and Arrangement (the Plan) that was formulated by TLC and voted on by creditors. Since October 2013, when TLC entered the Companies’ Creditor Arrangement Act (CCAA) process, every effort has been made to keep Members advised of the intentions to repay debt by transferring or selling properties.
Some of the properties included in the Plan have been declared inalienable in accordance with Part 20 of TLC’s bylaws. The bylaws address a process of transferring or selling properties if TLC dissolves. We are asking for your support to amend the bylaw to allow the implementation of the Plan. Please see the attached Introduction to Special Resolution explaining the proposed bylaw changes.
The proposed additions are noted in red, and the proposed deletions are struck through. We would appreciate your support of these changes.
An Extraordinary General Meeting will be held Friday, June 12, at 7 p.m. at the Prospect Lake Community Hall, 5358 Sparton Road, Victoria, to vote on the proposed changes.
If you are unable to attend, you can vote by proxy by email or mail.
The proxy form allows Members to assign another individual, such as one of TLC’s Board of Directors or myself, to vote in your stead. If the proxy form is returned to TLC and the appointee is left blank the Chair will vote on your behalf.
Each Member will receive one vote; family memberships receive two votes total.
Proxies must be returned by email to admin@conservancy.bc.ca or mail to TLC’s head office by 5 p.m. on June 5, 2015.
Thank you for your consideration,
John Shields
Director of Operations
