ASIC Chairman Greg Medcraft had announced an investigation into DBSC starting with observers to be sent to the 60th People's Congress to be held on Friday, 3 June 2016 at 7pm. Speaking of the investigation, Chairman Medcraft, rationalised the decision:
There is clearly something wrong at DBSC. Three things have hit warning bells.
Typically annual general meetings take hours and are contentious. Over the last ten years, the typical DBSC AGM has taken 17 minutes before proceeding to annual sailing presentation, good food, good wine and good company.
For the 60th consecutive year, the management committee of DBSC have recommended, and the meeting looks likely to resolve, that fees paid to directors should be halved for the following year. Our math boffins tell us that is impossible because you can't halve zero.
For about the 8 year in a row, membership fees remain unchanged. Unless the Canteen Crew are making thousands of toasties during the 18s season, this sounds too good to be true.
The People's Prince calls on all 101 members, and all life members, to support our club and sailors on Friday, 3 June 2016 at 7pm in the face of unnecessary regulatory oversight.
For catering purposes, please RSVP to Madame Secretary's invite sent yesterday.