The owners corporation must meet at least once each year at its AGM. Additional general meetings can be held when necessary to decide on the general running of the strata scheme and any issues which arise. A lot owner, or owners, who hold jointly at least a quarter of the unit entitlements, may request a meeting to be held at any time.
The agenda of the AGM must include:
- a copy of the financial statement for that year
- a motion for accepting the financial statements
- information about all insurance policies held
- a motion to consider appointing an auditor and taking out liability insurance for office bearers
- a motion to confirm the minutes of the last general meeting
- a copy of the minutes from the last general meeting
- any other motion to be considered at the meeting
- information on motions needing special or unanimous resolution
- a motion to decide what may be decided by the strata committee
- a motion for the election of the strata committee
- a motion to decide the number of members of the strata committee
- an item to review the 10 year capital works fund.
There are specific items that are included on the agenda of the first AGM of a strata scheme. Visit the Fair Trading website for details.
Meeting procedures for owners corporations are set out in Schedule 1 of the Act. Schedule 2 of the Act sets out the meeting procedures for strata committees. Information is also available on the Fair Trading website
© State of New South Wales (NSW Fair Trading). For current information go to fairtrading.gov.au
Read more about Strata Meetings here