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What is an annual general meeting?
Your owners corporation (formerly body corporate) must hold a meeting of all lot owners if it receives or pays out money during the financial year. This is called the annual general meeting.
The time between the annual general meetings for an owners corporation must not exceed 15 months.
The annual general meeting is the main opportunity for lot owners to discuss issues relating to their property and elect the committee and office bearers for the next year.
The meeting must cover:
- income and expenditure of the owners corporation during the past financial year
- assets and liabilities of the owners corporation at the end of the past financial year
- maintenance works and the maintenance plan
- a report from the committee
- a report from the owners corporation manager
- complaints and emerging issues.
The annual general meeting is used to:
- appoint a committee
- consider a maintenance program and budget for the next financial year.
The notice, agenda, financial statements, budget and minutes of the previous meeting must be given to all lot owners at least 14 days before the meeting. An additional day or two should be allowed for postage.
The annual general meeting can be very busy, with many reports and agenda items. Some matters may be left to a special general meeting.
The annual general meeting requires planning and preparation.
The committee and manager (if there is one) should contact lot owners to identify matters for discussion.
The manager, secretary or the committee should:
- forward minutes of meeting from previous year and any reports required to be tabled at the annual general meeting
- prepare the financial statement, reports and a proposed budget for the next financial year
- identify and assemble the motions to include on the agenda
- consider sending out a covering letter with the notice and agenda that sets out background to the issues, such as encouraging people to nominate to be on the committee, explaining any changes to fees, options for insurance and any necessary repairs and maintenance issues for the coming year.
To help you prepare for the annual general meeting, download the Owners corporation annual general meeting task list (Word, 55KB).
Make an agenda
Plan and prepare your agenda before you send out notice of the annual general meeting to lot owners at least 14 days before the meeting.
The agenda should include:
- election of chair, attendances, apologies, proxies, quorum and entitlements to vote
- confirmation of the previous meeting’s minutes
- report from the manager (if applicable)
- report from the committee (if applicable)
- reports on the implementation of the maintenance plan (if applicable)
- any other reports required under the Act
- acceptance of the financial statements
- proposed budget for the next financial year
- setting of fees
- election of committee
- removal of a chairperson or secretary
- appointment of manager or secretary
- delegations and any proposed controls on expenditure by delegates
- reports on the number and nature of complaints, including:
- the number and nature of matters on which action was taken under dispute procedures in the Act, and
- the number of applications to the Victorian Civil and Administrative Tribunal concerning the owners corporation,
- if the owners corporation is to charge interest on overdue fees, and
- the valuation report (for prescribed owners corporations only).
Download our sample Owners corporation annual general meeting agenda (Word, 50KB).
The Notice of owners corporation annual general meeting (Word, 51KB) must be in writing and either handed or sent to lot owners at least 14 days before the meeting. You can send it by email or other electronic means.
The notice must include:
- the date, time and location of the meeting
- the general nature of business and any resolutions to be discussed (the agenda)
- the text of any special or unanimous resolutions to be decided
- the financial statements
- the proposed annual budget
- any report(s) to be considered at the meeting
- the minutes of the previous annual general meeting
- a statement that lot owners have a right to appoint a proxy.
The chairperson of the owners corporation chairs the annual general meeting. If the chairperson is not present, lot owners can elect another lot owner or the manager to chair the meeting.
Other lot owners or the manager can assist the chairperson chair the annual general meeting. Any decision by the owners corporation to authorise another lot owner or the manager to assist the chairperson must be recorded in the minutes.
For more information, view our Role of chairperson page.
A ‘quorum’ is the minimum number of members needed to transact business at a meeting.
The quorum for an annual general meeting is at least 50 per cent of the total votes or lot entitlements.
To work out if you have a quorum, count:
- all attending members, both financial and non-financial
- holders of proxies and powers of attorney.
The annual general meeting can still go ahead without a quorum but it can only make ’interim’ decisions.
The owners corporation can act on interim decisions after 29 days only if it has not received either a:
Owners corporation members or their proxies can vote at a meeting or by a ballot. Conducting a vote can be difficult and requires preparation.
A lot owner owing fees or other money to the owners corporation:
- is not entitled to vote on ordinary resolutions
- can still vote on matters requiring a special or unanimous resolution.
Payment by means other than cash must be made at least four business days before the annual or special general meeting.
For more information about voting procedures, view our Voting and ballot guidelines for owners corporations page.
If you cannot attend a meeting, you can appoint a person to represent you. This person ‘holds a proxy’ and their vote is counted as yours.
You may authorise a person in writing to act as your proxy to:
- attend, speak or vote on your behalf at an owners corporation meeting
- vote on your behalf in a ballot
- represent you on the owners corporation committee.
To nominate a proxy, you must complete the Owners corporation proxy (Word, 54KB) and deliver it to the owners corporation secretary.
A proxy will lapse 12 months after the form is delivered to the secretary, unless an earlier date is specified. It is illegal for a person to coerce or require you to give your proxy.
Electing a committee
By law, an owners corporation with 13 or more lots must elect a committee at each annual general meeting. A committee is optional for those with less than 13 lots.
The old committee should only stand down when the new committee is elected. The old Chair conducts the election and stands down when the new chair is elected.
For more information about who is eligible for election and the duties of the committee, view our Owners corporation committees page.
The owners corporation (usually the secretary) must keep, or arrange to keep, minutes of all its meetings. Minutes must include the:
- names of lot owners present
- names of lot owners who have provided proxies
- names of proxies present
- text of all resolutions
- outcomes of on any voting on resolutions.
Download the sample Owners corporation annual general meeting minutes (Word, 99KB).
If this information is not provided or provided incorrectly, it would be a breach of the Act and a resident could invoke the dispute resolution procedure under the Act. For more information, view our Complaint handling in your owners corporation page.