AFAIK, a motion as written can only be approved/denied at a AGM, you can’t modify the by-law during the meeting and then approve the modified by-law, and you can’t approve a by-law that hasn’t been written yet.
You probably meant general meeting rather than AGM (which can only happen once a year, EGMs can happen as prequently as the owners corp can stand). And you can amend the wording of a by-law provided it doesn’t alter the original intent of the motion.