Using examples of corporate governance of 5% is like saying Mahatir or Marcos did this so we can too, its utter rubbish.
Yes.
The basic point of the EGM amendment is to vastly reduce the ability of members to hold the board to account.
The EGM in 2004 was because the club (according to auditors notes) was technically insolvent and was only kept afloat by an AFL guarantee.
You would think that's a valid reason for an EGM.
But here they're trying to make it 25 times more difficult.