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Strata 101 Part 3 How the Body Corporate Functions


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Part 3 in our 7 part series

Published in: Business, Real Estate
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Strata 101 Part 3 How the Body Corporate Functions

  1. 1. Strata 101- How the BodyCorporate FunctionsA  7  Part  Training  Series  for  New  Queensland  Body  Corporate  Managers,  2  July  2012   ©  Copyright  2012  Teys  Lawyers          
  2. 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          
  3. 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          
  4. 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          
  5. 5. Conduct  of  a  General  MeeMng  ©  Copyright  2012  Teys  Lawyers          
  6. 6. VoMng  at  General  MeeMngs   In  person   By  proxy   By   By   wri^en   electronic   vote   way  ©  Copyright  2012  Teys  Lawyers          
  7. 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          
  8. 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          
  9. 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 Channels 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 and follow him on Twitter at @MichaelTeys.comTeys Lawyers practice nationally in strata and community title law representing owners corporations, bodiescorporate and apartment owners. The firm’s practice groups include building defects, strata communitydisputes, 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 flexibleworking arrangements and has remote working locations in Queensland and Victoria. ©  Copyright  2012  Teys  Lawyers