What does the Law say:
Each year a body corporate must hold an Annual General Meeting (AGM). The purpose of an AGM is for owners to discuss and decide on matters affecting the complex. Click here for more on Body corporate meetings
What is required:
- A body corporate must hold an AGM at least once during a calendar year and within 15 months of the previous meeting.
- A new unit title development must hold its first AGM within 6 months of the date that the unit title subdivision takes place or the sale of the first unit is settled.
- At an AGM the body corporate must elect:
- A body corporate chairperson
- Body corporate committee members (if there is a committee)
- A subsidiary body corporate representative (if the development is a subsidiary unit title development).
- A minimum quorum of 25% of the owners must be present in person or by proxy.
- A notice of intention to hold an AGM must be sent at least three weeks before the date of the meeting, or six weeks before if the development is a parent unit title development.
- The notice of AGM must be sent at least two weeks before the AGM or three weeks before if the development is the parent unit title development.
How are committees elected? Click here……...