What is an Annual General Meeting for?
The Owners Corporations Act 2006 states that an Owners Corporation must hold an Annual General Meeting for all Lot owners if it receives or pays out money during the financial year.
A written notice of the Annual General Meeting must be provided to all owners at least
14 days prior to the meeting date and each Annual General Meeting should be no longer than 15 months after the previous.
This meeting is the main opportunity for Lot owners to discuss matters concerning the common property, discuss any maintenance issue, approve income & expenditure and the budgets and to elect the committee until the next Annual General Meeting. You will receive minutes of the Annual General Meeting within 14 days of the meeting being held.
The Annual General Meeting is a very useful forum for understanding and being involved in the decisions of an Owners Corporation and we encourage owners to take part in these meetings.