AFA confirms EGM threshold reached

The Association of Financial Advisers (AFA) has confirmed it has received the requisite amount of forms for an extraordinary general meeting to be held, following member Mark Dunsford's call to revoke the association's support for the life insurance framework laws.

The resolution contained in the forms, the AFA said, "seeks to change the AFA constitution in a manner that reduces the policymaking powers of the AFA board. It is a special resolution under the Corporations Act and requires a 75 per cent majority support in order to be successful."

More to come.