The NZMA board met last night and unanimously agreed to recommend members vote to wind up the association at the next annual general meeting, the chairman of the board has said. administration, Dr. Alistair Humphrey.
“The Association’s financial situation is unsustainable. Two decades of stagnant membership and accumulating deficits have 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’s boards and staff have made many attempts over the past few years to find a way to save the association – downsize, undertake a merger, increase revenue or cut costs somewhere or another. .
“Despite their best efforts, the financial situation has become increasingly precarious and the reality now is that this Board and this President must deliver heartbreaking news to the membership: the financial situation of the New Zealand Medical Association is unsustainable.
“The NZMA is proud to have served the New Zealand medical community and the country as a whole since 1886.
“In recent years, we have been part of a growing number of organizations in this field. This unfortunately contributed to a dilution of the number of members, which undermined the financial situation of the Association.
“We are producers and custodians of several important assets that will need to be leveraged 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 organizations in the sector on how to pass on these assets and will share more in due course.
The NZMA constitution requires that a winding up resolution be approved by the members at a general meeting and confirmed at a follow-up meeting. A resolution will be presented to members at a rescheduled AGM on May 30, 2022, and if approved, there will be a Special General Assembly at the end of June to confirm the decision.
“We would like to thank the members for their dedication to NZMA, the medical profession and New Zealanders over many years,” said Dr Humphrey.