Sectional Title
Update ...
. . NEWSFLASH . . .
“ DEMISTIFYING SECTIONAL TITLE”
to be officially launched in mid SEPTEMBER!
The Special Resolution
Last week we dealt with the requirements in terms of the Act to pass a unanimous resolution, and we received so many telephone calls asking us about a SPECIAL RESOLUTION, that we had absolutely no option but to comply and address the matter in this week’s update:
So, what needs to be done in order to pass a special resolution?
IF THE RESOLUTION IS TO BE PASSED AT A GENERAL MEETING OF THE BODY CORPORATE:
- 30 days’ notice of the meeting by prepaid registered post must be given, and the agenda must specify the details of the proposed special resolution;
- Subject to quorum requirements being met for a general meeting, three-fourths of the members present in person or by proxy, or by person recognised as a representative in law, must vote in favour of the resolution on the one-man-one-vote system, AND the vote must also be passed in value - in other words the participation quotas of the sections of those members who voted in favour of the resolution must equal 75% or more of the total particpation quotas of the sections of all members forming the quorum.
IF THE RESOLUTION IS TO BE PASSED BY ‘ROUND ROBIN’:
- The Act simply states that 75% of all members of the Body Corporate must vote in favour of the proposed resolution, and that the result of such vote must be calculated, or reckoned, in number AND by value.
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