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The SM works for the OC not the other way around. I am not familiar with non-ACT details about delegation but I would expect that the EC and OC retains all powers they care to exercise if they consider it necessary even when some of those powers have been delegated for day to day purposes. So, if enough owners call for a general meeting you can have one. You can organise it anyway you care to so long as it is consistent with the requirements of the relevant Act.
In the ACT, the EC has to approve the proxy voting form which amounts to approving the agenda since the form lists the motions.
Consider that an OC might want to call a general meeting to decide to engage a different strata manager. If the SM were in charge you might not find that easy to do.