- This topic has 1 reply, 2 voices, and was last updated 6 years, 4 months ago by .
-
Topic
-
This post relates to the previous post about raising a special levy or taking out a strata loan.
In Victoria what are the legal requirements for raising a special levy ?
I understand that you would need a general meeting, but in these times of coronavirus does this mean a virtual meeting ? You can’t do it by email ?
Do you need to give 28 days notice as for the normal levies ?
-
Replies
-
In Victoria, both the OC and the Committee can strike a special levy. Where the special levy exceeds the double the annual budget, a Special Resolution is required (s.24).
So, unless a Committee spending limit has been set by an Ordinary Resolution, up to twice the annual budget can be raised as a special by the Committee alone.
No additional formalities are required for Committee meetings that are considering striking a special levy although a good Committee would be keeping all owners informed.