Question: Leading up to our AGM, our Strata Manager was holding too many proxies, so divvied them up to lot owners. Can this be done? Can you also explain the quorum requirements for annual general meeting?
Answer: For the quorum in your scheme – at least ¼ of persons present or ¼ of unit entitlements.
Clause 26 of the SSMA 2015 deals with the appointment of proxies and subsection (7) states:
Limit on the number of proxies that may be held – The total number of proxies that may be held by a person (other than proxies held by the person as the co-owner of a lot) voting on a resolution are as follows:
- if the strata scheme has 20 lots or less, one,
- if the strata scheme has more than 20 lots, a number that is equal to not more than 5% of the total number of lots.
For the full question & our detailed response, visit the original publication at Look Up Strata.