A Priority Vote – what is it and when can it be used?
A mortgagee or covenant chargee registered on the strata roll may cast a priority vote.
A priority vote may be cast on any of the following motions:
(a) a motion that relates to insurance, budgeting or the fixing of a levy,
(b) a motion that will require expenditure by the owners corporation of an amount that exceeds the amount prescribed by the regulations
(c) a motion that requires a special resolution or unanimous resolution.
A vote by an owner does not count if a priority vote is cast for the lot in relation to the same matter.
Voting rights, including a proirity vote, cannot be exercised if contributions are not paid (other than a vote on a motion requiring a unanimous resolution) if the lot was an unfinancial at the date notice of the meeting was given and did not pay the amounts owing before the meeting.
See clause 24 for further information.
Read more about Strata Meetings here