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Strata 101 Part 3 How the Body Corporate Functions
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Strata 101 Part 3 How the Body Corporate Functions
1.
Strata 101- How
the Body Corporate Functions A 7 Part Training Series for New Queensland Body Corporate Managers, 2 July 2012 © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
2.
Overview 1. What
is a body corporate? 2. Paperwork for general meeMngs 3. Conduct of a general meeMng 4. VoMng at general meeMngs 5. General meeMng resoluMons © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
3.
What Is a
Body Corporate? • A separate legal enMty • Created when land is subdivided to create a Lot community Mtles scheme owner Lot Lot • Every owner of a lot is automaMcally a member owner owner of the body corporate Body • Membership ceases when corporate lot ownership ceases • Must meet annually ‘Body corporate for [name] CTS [number]’ © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
4.
Paperwork for General
MeeMngs NoMce of Mme and place Agenda seYng out moMons Proxy form Corporate nominee form VoMng paper (including any secret paper and envelope) Explanatory notes AdministraMve and sinking fund budgets Quotes for spending Statements of account Audit cerMficate Insurance disclosure Statement of meeMng procedure and voMng rights © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
5.
Conduct of a
General MeeMng © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
6.
VoMng at General
MeeMngs In person By proxy By By wri^en electronic vote way © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
7.
General MeeMng ResoluMons
Ordinary Without Special Majority • Simple dissent • Two thirds • Simple majority of • Passed if no of votes cast majority of votes on the vote is for & not votes of day counted more than those against the 25% of lots enMtled to moMon in the vote scheme against © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
8.
Next Week •
How the commi^ee funcMons 1. Commi^ee powers 2. Powers and duMes of a chairperson 3. Powers and duMes of a secretary 4. Powers and duMes of a treasurer 5. Proxy voMng at commi^ee meeMngs © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
9.
About the Presenter
Michael Teys is the Founder and Principal Lawyer of TEYS Lawyers. He has a Bachelor of Laws and practices exclusively in the area of strata and community title law. He is a Fellow of the Australian College of Community Association Lawyers. He was formerly an Adjunct Lecturer with Charles Sturt University. He has also been the CEO of a publicly listed company and one of Australia’s largest strata management companies managing over $8B of residential and commercial property. Michael appears weekly on SKY News Business Channel's Property Success with Margaret Lomas and is a regular panellist for the property edition of Your Money, Your Call for the same channel. You can read Michael’s blog at www.michaelteys.com and follow him on Twitter at @MichaelTeys.com Teys Lawyers practice nationally in strata and community title law representing owners corporations, bodies corporate and apartment owners. The firm’s practice groups include building defects, strata community disputes, strata title property law, by-law / rules and levy / fee collection. TEYS Lawyers provide an entirely cloud based working platform for their team. The firm provides flexible working arrangements and has remote working locations in Queensland and Victoria. © Copyright 2012 Teys Lawyers www.teyslawyers.com.au
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