Some Aspects on the Annual General Meeting
Posted in Paddocks Press Newsletter
It’s that time of the financial year again, where preparation for the annual audit should soon be underway.
The body corporate is a juristic person that requires organs and agents to act on its behalf. It has two organs, namely the trustees and the the general meeting. The general meeting is made up of all the owners of units within the sectional title scheme. All meetings of owners are called general meetings. The general meeting is very important as it deals with important matters beyond the jurisdiction of the trustees, and has the power to impose restrictions and give directions to the trustees in terms of section 39(1) of the Act. General meetings are dealt with in Prescribed Management Rule 50 to 67.