A.M.P. policy-holders seek board seat

Press, Volume CXIII, Issue 33141, 3 February 1973, Page 16

A.M.P. policy-holders seek board seat

(N.Z.P A. Staff Correspondent ’ SYDNEY, February 2. A Wellington lawyer, Mr W. G. T. Wiggs, president of the A.M.P. Policyholders’ Protection Association, and a leading critic of the insurance company’s activities in New Zealand, is seeking a place on the society’s principal board.

The society anounced tonight that for the first time since 1966 a ballot would be held for the election of directors to the board. The principal board is the only board elected by policyholders, and appoints the society’s Australian State and New Zealand boards. Mr Wiggs travelled to Sydney at his own expense last year to attend the annual meeting of the society, seeking a better deal for New Zealand policyholders.

In a report released yesterday, which will be presented to the Policyholders’ Association at its annual meeting in Wellington next Thursday, Mr Wiggs said the association intended to be represented again at this year’s annual meeting. The annual meeting of the society will be held in Sydney on May 9, when the result of the ballot, which will be held on April 27, will be announced.

The society s secretary (Mi P. A. Grace) said in an interview tonight that directors retiring in terms of the society’s by-laws were Sir Clifford Plimraer (New Zealand), Mr E. H. Lee-Steere (Western Australia) and Messrs B. B. Riley and J. M. Crane (both New South Wales).

Mr Grace said all retiring directors were eligible for re-election, and Mr Wigg’s nomination. had also been accepted. He said Mr Wiggs fulfilled all the requirements of the society’s by-laws for election to the board, and had been nominated by the required 25 qualified voters. As Mr Lee-Steere is the only candidate from Western Australia, he has been re-elected in terms of the society’s by-laws, which require that New Zealand and the Australian States all have one representative on the board. To win a place on the board, Mr Wiggs will have to defeat Sir Clifford Plimmer for the New Zealand repreLsentation, or displace one of the New South Wales men. Mr Grace said that in the last 39-odd years there had been only about five elections, and a sitting member of the board seeking re-elec-tion had never been defeated.i Mr Wiggs, as a candidate: for the board, has to put up I $5O, which is forfeited if he fails to get one-fifth of the votes cast for the lowest successful candidate. If he fails to get the required number of votes again the next’ year, he is prevented by thej society’s by-laws from stand-i ing again for five years. Mr Grace said preparations were already under way for reviewing the societys rolls, which list those individual and superannuation scheme members who wish to vote. New South Wales has lowered the age of majority from 21 to 18 since the society’s last election, and 18-j year-olds will be permitted to vote for the first time. Because the society is incorporated in New South Wales, 18-year-old policyholders ini New Zealand, the United Kingdom or any Australian State will be allowed to vote, even though they may be regarded as minors by their own Governments.

Mr Grace said the seciets had on its voters’ rolls about 60.000 individuals who had asked to record their votes in A.M.P. elections. "To a great extent this list of interested members is the result of the society’s longestablished practice of advising all new members of their voting rights at the time of issue of their policies. "However, any member of the society is entitled to vote, irrespective of whether his name is listed in the postal voters’ roll or not. Indeed, we like to think that members will take a deep interest in A.M.P. affairs, and vote at all ballots,” Mr Grace said.