On this page:
Your owners corporation number
Your owners corporation (formerly body corporate) may be new or may not have been active for many years. This page explains how to get your owners corporation going, so it can comply with the law.
Check your plan of subdivision, which you can get from Land Use Victoria. The plan of subdivision number from Land Use Victoria is your owners corporation number.
Initial owner’s role in activating your owners corporation
The initial owner should call the owners corporation’s first meeting within six months of registering the plan of subdivision at Land Use Victoria.
The initial owner is usually the owners corporation’s sole member at this stage.
At this meeting, the initial owner or applicant for registration must give the owners corporation:
- the owners corporation register
- a copy of the plan of subdivision and planning documents
- copies of building contracts and building plans
- the maintenance plan (for prescribed owners corporations or if necessary)
- a copy of the Owners Corporations Act 2006, Owners Corporations Regulations 2018, Subdivision Act 1988 and Subdivision (Procedure) Regulations 2000
- contracts, leases and licences binding or benefiting the owners corporation
- insurance policies relating to the owners corporation
- names of companies, tradespeople or suppliers who have provided a warranty or guarantee
- books to enable the owners corporation to keep minutes, accounts and other records
- any accounts or records made on behalf of the owners corporation
- the common seal
- rules registered with Land Use Victoria.
For information about organising an owners corporation meeting, view our Owners corporation meetings page.
First annual general meeting
To activate your owners corporation you must hold an annual general meeting.
Lot owners who have at least 25 per cent of the total lot entitlements can use an owners corporation petition to convene the first annual general meeting:
- if the initial owner did not, or
- to reactivate an existing owners corporation.
Alternatively, you may apply to the Victorian Civil and Administrative Tribunal for an order compelling the owners corporation to hold an annual general meeting.
To hold this first annual general meeting, send out a notice at least 14 days before the scheduled date to all members stating:
- the date, time and place of meeting
- the text of any special resolution or unanimous resolution
- the financial statements setting out income, expenditure, assets and liabilities
- the proposed budget
- a statement that lot owners can appoint a proxy
- an agenda with the following business:
- election of a committee (mandatory if there are 13 or more lots, and optional if less than 13)
- election of chairperson and secretary
- appointment of registered manager
- instruments of delegation for the manager, committee, chairperson and secretary if required
- registration of the owners corporation for taxation purposes. Your owners corporation may need to have a Tax File Number and an Australian Business Number (ABN)
- notification to Land Use Victoria of changes to the owners corporation contact details
- provision and details of insurance
- additional insurance; for example, to protect office bearers
- setting up a bank account
- method of keeping books and records
- letterbox and sign, if not already provided
- building audit for the purposes of the Building Regulations 2006, including cooling tower registration if required
- risk assessment for occupational health and safety purposes
- budget for the next 12 months. The budget is usually for a financial year
- consideration of financial statements
- the details of fees
- rules. including the owners corporation’s process for resolving disputes
- consideration of reports. But, you may not have any to consider at the first annual general meeting.
The notice must be handed or sent to lot owners. It can also be sent by facsimile, email or other electronic means.
If you are reactivating an existing owners corporation, you should have original documents from the initial owner - see 'Initial owner’s role in activating your owners corporation' above. If not, individual lot owners may have copies and you can get some of the documents from your local council and Land Use Victoria.
For information about organising an owners corporation annual general meeting, view our Owners corporation meetings page.
After the first annual general meeting
After activating your owners corporation by holding the annual general meeting, you may need to open a bank account or take out insurance in its name. To do this you may have to provide evidence that the owners corporation is a legal entity.
This includes:
- a statement that the owners corporation is incorporated on the registration of the plan under Section 28 of the Subdivision Act 1988
- a copy of the plan of subdivision
- minutes of meeting recording the decision to open an account or take out insurance.