EGM,s and Variations in Sinking Fund Levies

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  • 15/04/2014 at 5:05 pm #9453 Reply | Quote
    papageno

      Our sinking fund balance is twice that proposed by fund analyst, Sinking Fund Plans Australia Pty Ltd. Members of the owners Corp. have asked to hold an EGM prior to the next AGM to consider reducing the levy. We have been informed in writing by the OFT that we can lower the levy at an EGM, however our strata manager states that we are not permitted to do so and must wait until the next AGM, referring to Strata Schemes management Act clause 75. The OFT telephoned our manager to add a verbal explanation and because she was so adamant, they held a “very high profile” advisory meeting and confirmed their ruling again. The authority for this opposition is her “office”, with no author named or text provided. Who is correct and what is our next step?

      Papageno

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    Reply To: Reply #21403 in EGM,s and Variations in Sinking Fund Levies
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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