At the end of every financial year, the body corporate has 3 months to hold its annual general meeting. The body corporate must call this annual general meeting exactly as it says: annually. However, there are times where an issue must be decided by a body corporate at a general meeting and not by the committee, and the timing may not conveniently line up with the AGM. In these circumstances, an extraordinary general meeting, an EGM, can be called.
The committee can, at any time, resolve to call a general meeting. To do so, the committee simply resolves to call a general meeting and gives authority to a committee member to undertake the actual process of calling the general meeting. From there, the agenda is drawn up with the motions the committee wants to discuss (including any other motions already requested by other lot owners, if they can reasonably be included), and a notice is sent out giving no less than 21 days’ clear notice from the notice being sent out and the meeting being held. The meeting runs like any other general meeting of the body corporate.
Otherwise, an EGM can be requested by lot owners. An EGM must be called if at least 25% of owners request an EGM and give that notice to the secretary (or chairperson, if the secretary is absent).
When that notice is given to the secretary, the meeting must be called within 21 days of the notice and the meeting must be held within 6 weeks of the notice. This notice should also include the motions, explanatory material, and any documents to be read with the motions. The meeting then runs like any other meeting of the body corporate.
This article is intended as general information only and should not be relied upon as legal advice. For specific legal advice please contact us here.