16.3.2 The quorum in a meeting shall comprise Shareholders present or by proxy who:

(a) comprise 75% of those Shareholders entitled to vote; and

(b) hold not less than 75% of the total loan advances in the Company.

(c) Those entitled to vote shall be entitled to vote by proxy.

On alex's spreadsheet a quorum is calculated as 75% of 23 units so 17.3 shareholdINGS

But clause 16.3 says we need 75% of shareholdERS for a quorum and there are 5 shareholders ie a quorum is 26.25 shareholders.

Or is it that half of every couple not entitled to vote as only first named shareholder can vote?

Regs roz