An Annual General Meeting (AGM) must be held within 3 months of the end of a scheme’s financial year. For various reasons, bodies corporate are not always able to comply with that timeframe. When this happens, many apply for adjudication, seeking an order such as ‘permission to hold the AGM out of time’ or ‘an…
Annual General Meetings – Part Two Top Tips In my earlier article – part one – I covered some of the basic processes of an annual general meeting (AGM), including some of the key timeframes involved. With those details in mind, this article – part two – provides some AGM tips. You might like…
Commissioners Corner: AGM Basics and Timeframes Not surprisingly, one of the most common inquiries received by the Office of the Commissioner for Body Corporate and Community Management is about general meetings of a body corporate. The queries are often about the timeframes involved as well as some of the more basic processes. Given that a…
Most people have heard of the term “conflict of interest” and have a general idea what this means in business. However; the term is used for a specific set of circumstances when it comes to Bodies Corporate. Whether or not a conflict of interest exists for a Body Corporate member, we firstly need to apply…
There are two sets of minutes that must be kept by every body corporate. Those at committee level and those at general meeting level. This article deals with what must happen at committee level. Everyone has seen some version of minutes somewhere. It could be from their local sporting club’s Annual General Meeting or that…
For many stakeholders in a strata community, the annual general meeting is their time to shine. They submitted their motions long ago, they knocked on the doors of their friendly neighbours to ask for their support, and they have visualised how they will make their strong points when having their say at the meeting. For…
DSCV’s top tips for effective communication: Make sure you both have enough time to talk through the issues Communicate your needs and concerns Keep your emotions in check, stay relaxed Attack the problem, not the person Listen to the other side and acknowledge their needs and feelings If this fails, agree to take a break…
Last week we discussed how to form a Committee, and this week we look at the next steps in the process when a Committee cannot be formed at the Annual General Meeting (AGM). It is a requirement of The Body Corporate and Community Management Act 1997 that a Committee is formed at the AGM, and…
Throughout the year, unit owners are issued with a number of body corporate meeting notices. These notices could include information related to committee meetings, voting outside of committee meetings (known as flying minutes), and the annual general meeting. Current legislation specifies these notices must be issued within certain timeframes, which range from 7 – 21…
There are various types of meetings associated with running a strata scheme. One of the most important meetings to take place is the Annual General Meeting. At an AGM, Lot Owners have the opportunity to vote on important issues such as setting the annual levies, enter into agreements for services and electing the body corporate…