Topic: Conflict of interest?

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13/02/2014 at 2:26 pm #9350 Reply | Quote
Magnus10
I’m a unit owner in a strata plan and we’re about to vote at an Extraordinary meeting to raise funds for urgent repair work which will run into $1,000’s for each unit owner. The problem is one of the EC members has put in a quote for this work. He currently owns about 38% of the units so has a large voting right. My question is can he vote with such a clear conflict of interest?
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13/02/2014 at 3:37 pm #20922 Reply
DaveB
Flatchatter
I believe he can. There’s nothing to stop you making sure that all the other owners are aware he has quoted. Provided of course you don’t defame him. Is his the only quote? If so, there is nothing to stop any owner at the meeting putting forward an amendment proposing that additional quotes be obtained and considered before acceptance. If there are $1000s involved as you say then good practice dictates that competitive quotes are obtained.

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Reply To: Conflict of interest?

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