1. The Chairman opened the meetinq and welcomed those present.

2. Minutes of the A.G.M. held World Championship Marstrand in August l974, having been circulated to all concerned, were accepted and confirmed.

3. Matters arising Nil, except for number 4 as follows -

4. World Championship 1976 - Australia The representative from Australia stated that the South African 505 Association would be welcome, provided they represented the S.A. 505 Association.
As regards entry of boats, there appears no problem.
A description of the venue etc. was given by the representatives, and booklets distributed.

5. International Secretary's report
The Class continues to flourish, and a steady increase in numbers maintained. Generally speaking, the financial side is satisfactory, but heavier expenses expected next year, as thc French Governeent will be introducinq taxes on wages. Therefore, the Secretary's wages will have to be increased. No details are available, except it would appear a type of Social charge. The International Bulletin is in deficit, but efforts are being made to put it on a firm economical basis in the future.
As regards Fleets of boats - Great Britain has the largest, United States second, and France third.

6. Treasurer's report
International Secretary reported the present International Treasurer has resigned, and Alain PREEL (France) has taken over that post. He was unable to be present.

7. Auditor's report
M. DOBEYN reported the 1974 accounts, and gave his views on same. His comments included the following -

8. Chairman measurement Committee's Report
D. FARRANT reported the measurement Committee had several things to put to the meeting, as follows -

9. Elections
International President for 1976/77/76.
Dennis SURTEES (U.S.A.) being the only candidate, and having been proposed by G.B. and seconded by France, was introduced by the Chairman, who remarked, he needed little introduction, being a well known and successful 505 sailor, an asset to the Class, who he knew would give of his best in an endeavour to keep the 5D5 on its pinnacle.

Dennis SURTEES replies to the effect, that he felt honoured and moved to do his best to uphold the high standard, set by previous Presidents. He paid tribute to the retiring President, Percy CHANDLER, The meeting responded in the usual manner.

International Secretary A. LALLEMAND (France) proposed J. LDCKE (G.B.) seconded N. KOUWEN (Canada).

International Treasurer A. PREEL (France) proposed Percy CHANDER (G.B) seconded PH. BUCK (France)

International Auditor M. DOBEYN proposed J. LOCKE (GB) seconded J. COVELLO (SA)

10. World Championships

11. Royalties to J. WESTELL
The Chairman reported that John Westell had requested an increase in royalty on the 505. The Chairman gave a resume of the low price of this royalty compare to other Clesses. G.B. proposed and France seconded that the royalty on each new boat be increased to 5 Pounds sterling. J. WESTELL has requested this increase be paid in sterling. The increase to commence 1st Dec 1975. The meeting agreed unanimously.

These minutes were taken by P. CHANDLER at the request of the Int. Secretary. There being no other business the meeting closed at 2200 hours