Meetings, some people love them some people loathe them, irrespective of your view on meetings, the Annual General Meeting (“AGM”) for your building is one of the most important items for your building to deal with each year.
The AGM will cover a number of important matters that requires the owners input and voting on, which includes:
1. Adopting a new budget for the preceding 12-months
2. Election of the Strata Committee
3. Adopting the financial statements
4. Insurances; and other statutory motions for consideration
Outside of the AGM your building may hold an Extraordinary General Meeting throughout the year as required and Strata Committee Meetings.
Strata Committee Meetings may deal with day to day administrative matters and/or approvals that the Strata Committee can make under the Act. This may be approval for the installation in accordance with the by-laws or approval to park on a part of the common property.
The Strata Committee may also refer matters to an Extraordinary General Meeting that the Strata Committee cannot make decisions on; for example, raising a special levy or add to or amending the by-laws.
An Extraordinary General Meeting may be called to deal with matters that the Strata Committee cannot deal with (restricted matters). This may be to raise a special levy, amend or add to the by-laws, amend the annual budget, add to the common property or to approve a large capital expense item
Q: When will the AGM for my building be held?
While we will generally communicate with the Strata Committee about the scheduling of the AGM, our intention is to hold the AGM within 2-months of your building’s financial year end. This varies for each building.
Feel free to contact us and we can provide an estimate of when your AGM will be held.
Q: What happens if I cannot attend the AGM or EGM?
In the event that you are unable to attend the AGM, you have a few options. You can complete a proxy form and appoint a person to vote on your behalf or complete a pre-meeting electronic form outlining how you wish to vote on each motion.
Q: I have an item that must be considered at a General Meeting; however the AGM has been held. When and how can this matter be considered?
Outside of the AGM, the owners corporation can agree to hold an Extraordinary General Meeting at any time throughout the year.
The motion for consideration must be provided in full with an explanatory note to the motion. Our office will then communicate with the Strata Committee as to the time frame to hold the Extraordinary General Meeting.
Q: Must my levies be paid in full to be able to vote at a General Meeting (AGM/EGM)?
Yes. Any contributions levies on an owner which are due and payable must be paid prior to the meeting, including any interest or other fee’s incurred.
Q: When are Strata Committee Meetings held?
Strata Committee Meetings are held as and when required by the Strata Committee. Only matters that are not restricted by the owners corporation or the legislation can be dealt with by the Strata Committee.
There is no requirement for the Strata Committee to hold a minimum number of meetings throughout the year.
Q: I am a Strata Committee Member. Must my levies be paid in full to be able to vote at Strata Committee Meetings.
Yes. With the new changes in the legislation, as a Strata Committee Member, your levies must be paid in full including any interest or other fees incurred prior to any Strata Committee Meeting.
In the event that you were nominated to the Strata Committee by another lot owner, the lot owner who nominated you must ensure that their levies are paid in full before you can vote.
Q: Can Strata Committee Meeting be held via a paper vote?
Yes. The legislation allows for Strata Committee Meetings to be held via a paper vote (no attendance required). This has the same effect as a formal face to face meeting of the Strata Committee.