Understanding the Types of Body Corporate General Meeting

Meeting

A personal approach
to body corporate management

Relationships are the foundation of our business, built on the understanding that every client is unique, not just at a body corporate level, but as individuals.

That’s why we take the time to listen, tailoring our management approach to suit every person, their communication style and business preferences.

Receive an obligation
free building proposal

We'll need to get some details about your building. Let us know the best time to contact you.

Please contact us here if you are seeking a proposal for a building we don’t currently manage. If you are an existing BCsystems customer please email us at info@bcsystems.com.au

General meetings are an essential part of body corporate governance, providing a platform for lot owners to make important decisions about the management and operation of their community. In Australia, there are two main types of body corporate general meeting: the Annual General Meeting (AGM) and the Extraordinary General Meeting (EGM).

Each serves a distinct purpose, ensuring that the interests of all stakeholders are addressed effectively. This article explores each of these meeting types and their specific roles.

1. Annual General Meeting (AGM)

The Annual General Meeting is a mandatory meeting held once a year, as stipulated by body corporate legislation. It is the cornerstone of body corporate governance, ensuring transparency and accountability in managing the community’s affairs. Whilst owners can propose their own motions to the AGM, the AGM agenda is mostly prescribed.

AGM motions include:

  • Confirmation of the minutes of the last general meeting.
  • Presentation of annual financial statements.
  • Audit motion and the appointment of the auditor.
  • Presentation of annual budgets for the administrative and sinking funds.
  • Adoption of the insurance policies.
  • Lot owner motions.
  • Committee elections

2. Extraordinary General Meeting (EGM)

Extraordinary General Meetings are convened as needed, outside the regular schedule of AGMs. They provide a mechanism for addressing urgent or significant issues that cannot wait until the next AGM. See our article Understanding Extraordinary General Meetings in Body Corporate.

Reasons for an EGM

  • Decisions on major projects: Approving significant maintenance or capital works that require urgent attention or exceed the committee’s approved spending limit.
  • By-law inclusions or changes: include or changing by-laws, which may arise in response to changing community needs or legal requirements.
  • Entering into contracts: entry into contracts 12 months or greater require owners’ consideration.
  • Budgets and levies: changing budgets and levies affects all owners in a body corporate and therefore require owners’ consideration.
  • Removal of committee members from office.
  • Amending or rescinding motions previously approved at a general meeting.

Calling an EGM

The Secretary of the body corporate committee, with authorisation from the majority of the committee, can call an EGM. An EGM can also be called when a group of lot owners meet the minimum required threshold (usually a percentage of the number of lots in a scheme).

Conducting General Meetings

Both AGMs and EGMs must comply with statutory requirements to ensure fair and transparent decision-making. This includes:

Notice periods

Proper notice must be given to all lot owners, including details of the date, time, venue and agenda. This must be delivered at least 21 days prior to the meeting.

Quorum requirements

A minimum number of attendees, either in person or by proxy, is needed for the meeting to proceed.

Voting procedures

Voting can be conducted in person, by proxy, or through electronic means (depending on the resolutions in place allowing for voting in that way).

Record keeping

Minutes of the meeting must be recorded and made available to all lot owners within 21 days of the meeting being convened.

Related content

Share This Post

Subscribe To Our Newsletter

Is BCsystems your current body corporate manager?
You are

More To Explore

Buying a townhouse
Basics

Understanding Body Corporate: 4 Essential Tips for First Time Buyers

Purchasing a property within a body corporate structure can be an excellent investment, offering access to shared amenities and a sense of community. However, it comes with unique responsibilities. Like any home purchase due diligence an essential step before signing on the dotted line.

Meeting
Basics

Understanding the Types of Body Corporate General Meeting

In Australia, there are two main types of general meeting in a body corporate: the Annual General Meeting (AGM) and the Extraordinary General Meeting (EGM). Each serves a distinct purpose, ensuring that the interests of all stakeholders are addressed effectively.