A special general meeting (SGM) of Cycling NSW (CNSW) was held tonight via online video conference.
At the SGM, the constituent clubs of CNSW voted on a proposal by which CNSW would transfer its assets to AusCycling on a staged basis as follows:
Completion of the transfer would be subject to AusCycling satisfying certain commitments during the guarantee period, including:
At the SGM, 45 constituent clubs entitled to a total of 84 votes cast votes on a special resolution to give effect to the proposal.
Four of the votes cast were against the resolution, with all other votes in favour. As 75% or more of the votes cast were in favour, the resolution was passed.
CNSW understands that the board of AusCycling has also approved the proposal.
The CNSW board will now work with AusCycling to put the proposal into effect. The board will provide updates in the new year about the next steps and their effects on members and clubs.
If you are an existing CNSW member, your insurance will continue until the expiry date of your membership.
Current CNSW members whose memberships have expired, or are expiring, should renew their memberships at https://www.auscycling.org.au/membership.