1. I am a member of RQYS Marina Limited.  

2. I believe that the directors of RQYS Marina Limited have acted improperly and not in accordance with their duties as directors when they failed to ask Department of Main Roads and Transport to issue new leases in favour of RQYS Marina Limited over the land and water currently leased to the company. 

3. I believe it is a breach of their duties as directors to acquiesce in the issue of new leases in favour of the RQYS Nominees Pty Ltd (a wholly owned subsidiary of Royal Queensland Yacht Squadron Limited) upon expiry of the current leases in December 2028.  

4. RQYS Marina Limited and its members have provided the whole of the $10.5 million to pay for the refurbishment of the marina. 

5. I request that the Directors of RQYS Marina Limited take all necessary steps to seek to have the new leases issued in favour of the current lessee RQYS Marina Limited.

6. The Squadron does not own RQYS Marina Limited and has no financial interest in the company.   Therefore the 2012 - 2013 financial accounts are wrong to show that the Squadron has 100% beneficial ownership of RQYS Marina Limited. The Squadron has no ownership of RQYS Marina Limited. 

7. I request that the Directors ask the auditors to again review the accounts for the year ending June 30 2013 and, 

a. advise the auditors that Squadron does not have any ownership of or equity in RQYS Marina Limited and instruct the auditors to correct the statement as to beneficial ownership ;

b. provide the auditors with the Pilot Partners report dated 12 July 2013, the Pilot Partners report dated 15 July 2013 and the Vincents report dated 15th July 2013;

c. ask the auditors to consider if it is proper to consolidate the accounts of the marina company with those of the Squadron;

d.the corrected accounts and the auditors advice re consolidation be made available to members forthwith and the revised accounts be submitted for approval at the next general meeting of the company.