Had a chat with someone from Fair Trading about this and basically the Owners Corporation exists right now, even before the first AGM, but the developer is obviously the majority voter (for want of a better term).
Have a look at the proposed by-laws (which should have been registered with the Strata Plan) and see if there's anything you might fall foul of. You may want to sit down with the developer (and any other owners who want to participate) and agree on a way forward.