NZMA Board recommend liquidation of Association
The NZMA Board met last night and unanimously agreed to recommend that members vote to liquidate the Association at the upcoming Annual General Meeting, said Board Chair Dr Alistair Humphrey.
"The financial position of the Association is unsustainable. Two-decades of stagnant membership and the accumulation of deficits has reached the point where we must dissolve, or we will soon become insolvent and unable to meet our obligations to staff and creditors," said Dr Humphrey.
"Serial NZMA Boards and staff have made many attempts over the last few years to come up with a way to save the Association - to pare back, to undertake a merger, to raise revenue or trim costs somewhere or another.
"Despite their best efforts the financial position has become more and more precarious and the reality now is that this Board and this Chair have to convey the heart breaking news to the members: the financial position of the New Zealand Medical Association is unsustainable.
"The NZMA has a proud record of service to the New Zealand medical community and to the country as a whole since 1886.
"In recent years, we have been part of an expanding number of organisations in this area. This has unfortunately contributed to a diluting of membership numbers, which has undermined the Association's financial position.
"We are producers and custodians of several important assets that will need to be carried on by other organisations - including, the New Zealand Medical Journal, the Code of Ethics, the Benevolent Fund and New Zealand's membership of the World Medical Association.
"We are in discussions with other sector organisations on how to pass these assets on and will share more in due course.
The NZMA constitution requires that a resolution to liquidate is approved by members at a general meeting and confirmed at a follow-up meeting. A resolution will be presented to members at a rescheduled AGM on 30 May 2022, and if approved, there will be a Special General Meeting in late June to confirm the decision.
"We want to thank members for their dedication to the NZMA, to the medical profession and to New Zealanders over many years," said Dr Humphrey.
