#60174
Jimmy-T
Keymaster

    Is it legal NOT to hold an AGM every year? If it is not legal, what can I do to call for one?

    The law demands an AGM every financial year which means you could go up to almost two years without having one if, for instance, the last one was held in July 2020 (FY 20-21) and the next one is delayed until June 2022 (FY 21-22).

    What can I do to get a copy of the executed loan agreement so I can determine how long will I be paying the special levy for?

    This is a bit confusing.  Normally strata schemes chose between either having a special levy or getting a loan.  If you are talking about an increased levy to cover repayments of the loan, then that will be revealed by the terms of the loan agreement and your share of the repayments, as determined by tour unit entitlements.

    Call Fair Trading (13 32 20) on failure to hold AGMs and regarding the strata manager refusing to let you see the details of the loan.  Or apply for mediation at Fair Trading, citing Section 232(2) of the Act – failure to fulfil a function

     

    The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.