There are three types of general meetings in Victoria:
- The first annual general meeting
- Annual general meetings
- Special general meetings
What are the obligations for the first AGM?
The first AGM must be convened within six months of the registration of the plan. At this meeting the applicant for registration of the plan of subdivision must provide the following documents:
- The Owners Corporation register
- Minute, account and other record books
- Maintenance plans
- Plan of subdivision and building plans
- A copy of the Act and the Regulations
- Any contracts, leases and licenses
- Any insurance policies
- The common seal of the Owners Corporation
What are the obligations for following AGMs?
Subsequent AGMs must be held if the Owners Corporation receives or pays out money during the financial year. An AGM must be held within 15 months of the previous AGM. It must cover:
- Income and expenditure
- Asset and liabilities
- Maintenance work and the maintenance plan
- A committee report
- An Owners Corporation manager’s report
The AGM is also used to:
- Appoint a committee
- Consider a maintenance program and budget for the next financial year.
The quorum for an AGM is at least 50% of the total votes.
Owners Corporation actions
You must send a written notice to all lot owners at least 14 days before the meeting. This must include financial statements, budget, previous meeting minutes and an agenda.
Special General Meetings
Special General Meetings are any meeting other than the AGM. They may be called by the chairperson or secretary of the committee, or the Owners Corporation Manager. Written notice must be given to each owner at least 14 days before the meeting, including:
- Time, date, and place of meeting
- An agenda
- The text of any special or unanimous resolution to be moved
- A statement that lot owners have the right to appoint a proxy
Who can help?
There are many obligations to be met under Owners Corporation legislation, and some can get quite confusing. This is where SSKB can help. SSKB can take responsibility for agendas, notices, motions, counting votes, and recording and distributing minutes. We exist to make a positive difference in the life of your Owners Corporation. Click here, to make the switch to SSKB today.