Refuse a special levy?

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  • 25/04/2012 at 4:23 pm #8104 Reply | Quote
    basjan27
    Flatchatter

      Our profligate EC has spent our Admin fund deep into arrears, and is borrowing against the sinking fund to pay ongoing expenses. (We assume, since the EC refuses to engage with any of the owners regarding their actions, and the SM refuses to confirm what fund is being used to pay expenses!)

      We have to assume that we’re going to be hit with a special levy one day soon. 

      What are the rules regarding the introduction of a special levy (ie., must be proposed as an agenda item for an EGM or AGM? must be approved by simple majoriy? must be a special resolution requiring 75%?) 

      And, if introduced as a resolution, can the OC vote against it, and what would be the implications.

      Thanks much

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    Reply To: Reply #15426 in Refuse a special levy?
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