FAQs – Removing and Replacing Committee Members
The Office of the Commissioner for Body Corporate and Community Management receive a number of queries about the process for removing and replacing committee members. Whilst the FAQs below provide some general information about these topics, it’s worth saying that merely removing and replacing a committee member is not necessarily going to solve all problems. […]
Transferring Money Between Funds (Administrative Fund & Sinking Fund)
Transferring money between funds (Standard Module) Questions regarding what the body corporate can do when there is not enough money allocated in a certain fund, in particular the transferring of money between the administrative fund and the sinking fund are common in our Office. In this article we will briefly touch on what are funds, […]
What is a Quorum?
In the world of Strata, a quorum is the minimum number of voters who must be present at a General Meeting in order to have a valid meeting. In this article written by Frank Higginson of Hynes Legal, Frank explains what a Quorum is and the outcome if you do not get a Quorum at […]
Committee Spending
*The following information is for community titles schemes registered under the Standard, Accommodation and Small Schemes module. Committee Spending And Spending Limits The relevant limit for committee spending (how much a committee can spend without having to go to a general meeting) can be set by Ordinary Resolution in a motion in either an Annual […]
Can you build a contingency into a Body Corporate Budget?
Can You Have A Contingency in a Body Corporate Budget? Contingency is a future event or circumstance which is possible but cannot be predicted with certainty. So Can you have a line item as a contingency in a Body Corporate Budget? The short answer is no. Having a line item called Contingency in your budget […]
