There are a number of differences between normal levies and special levies, especially with regards to raising each kind of levy. Normal levies All owners in a scheme are liable to pay their share of the normal levies. Levies are calculated and raised based on the budgeted expenditure for each financial year of the scheme. The levy contributions are used for the...
There are a number of points that need to be actioned following an Annual General Meeting. We cover those points in this blog: Appointment of a chairperson The Chairman is appointed at the first trustee meeting following the annual general meeting. The trustees appointed at the annual general meeting vote on the appointment of the chairman by majority vote. This...
This blog is the 6th part of our 2016 blog series titled “What you need to know about AGMs – 6 Key Questions” For updated information on this topic, read '5 Things you must know about voting at sectional title AGMs': https://stonewoodproperties.co.za/5-things-you-must-know-about-voting-at-sectional-title-agms/ Voting at an Annual General Meeting is mostly restricted to the appointment of trustees and is only necessary if more people...
Every owner in a scheme must be presented with the notice of the annual general meeting at least 14 days before the date of the meeting. The notice must include an agenda for the meeting. The agenda items are standard and are prescribed by the Sectional Title Act. Key items to be discussed at the annual general meeting are as follows: ...
The Sectional Title Act states clearly that a general meeting of owners will not proceed if a quorum is not present. A quorum is the number of attendees required at the annual general meeting for the meeting to proceed, be it in person or by proxy. Previous Management rules (“PMR”) 57 and 58 contained in Annexure 8 to the Regulations...