123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Business >> View Article

Executive Committee Of The Owners Corporation

By Author: Christopher Whelan
Total Articles: 80

With Strata schemes over 5 lots it's usually not possible for every owner to be directly involved with every issue. While the important issues may require all owner to be involved. So to avoid these types of complications at general meeting, Owner corporation elects executive committee to oversee these day-to-day administrative issues for the scheme.

An owner corporation must appoint an executive committee of the in accordance with the Division. The owner corporation may appoint them before the first annual general meeting . If the EC has not been appointed before the first annual general meeting the owner corporation must appoint an EC at that meeting. If there is no executive committee of the strata scheme must be administrated by the owners corporation, but nothing in this subsection prevents a strata manager appointed under this act from exercising any functions granted on the representative.

Executive committee is also knows as owners committee, Managing committee depending on the state or territory. This consists of small group of lot owners are elected at general meeting by Owner Corporation. An executive committee must ensure about strata law and by-law of the particular scheme. It also has the ability to change existing by-laws and make new ones.The committee is to consists of members should not be more than 9.An individual owner ,a company nominee of corporation who is a owner himself and an individual who is not an owner but nominated by an owner are not eligible for election of an executive committee. However the person who is co-owner of a lot may not be a candidate of election unless the person is nominated for office.

Any decision made by the executive committee is treated as a decision of the owner corporation although there are some matters that the committee does not have the power to make a decision for the owners. A person must be appointed as chairperson, secretary or treasurer unless the person is a member of the executive committee.

The power of the committee are limited under the strata scheme management act 1996.The group consists of up to 9 members .From this group office bearers are then elected at the first meeting .Office bearers position are Secretary, Treasure and Chairman.Under the strata scheme management Act 1996 the chairman, Secretary and treasurer have certain functional such as chairman preside at meetings, conduct meetings .Secretary convene meetings and prepare and distribute minutes of meetings ,maintains administrative and secretarial records for Owner. Treasure Issue levy notices and prepares financial statements and other financial records and maintain account records.

Meetings

The Act does not say how often executive committee meeting must be held. One-third of the EC members may ask the secretary to call a meeting and set time for the meeting.

Role of Executive committee

•To manage day-to-days administration.
•To manage the common property and assets of owners corporation.
•To implement decision of the owners corporation.
•To enforce the community management system.
•To enforce the owners corporation by-laws.


Christopher Whelan is a Licensed Strata manager at Whelan Property Group Pty. Ltd., a professional and proactive Strata management Company Sydney.

Total Views: 47Word Count: 515See All articles From Author

Business Articles

1. Title Loan: Well Option To Get Cash ?
Author: josefmadsan3

2. New York Customs Importer Security Filing
Author: peggyoberland

3. Hydraulic Pipe Repairs Atlanta Carried Out By Experts In The Industry
Author: snvmedia

4. Hiring A Planner For Your Beach Wedding
Author: Steve Hardin

5. Stag Weekends In Riga
Author: travel2rigaseo

6. Real Time Forex Signals – 3 Ways To Benefit From Them
Author: Marianne Edward

7. Forex Signal Provider – How Do They Assist The Traders?
Author: Marianne Edward

8. Flight Ticket Booking
Author: directoflight

9. Politicians- Why They Are Being Trolled By Public?
Author: Voteo Polis

10. 7 Biggest Human Resource Mistakes Made By Businesses
Author: Sandra Lee

11. Mobile Beauty Team In Arlington
Author: salonexiaseo

12. Shop At A Great Knives Store
Author: smithtrading786

13. Construction Company In Uk
Author: ccsheffield2016

14. Cool Portable Mini Dvd Players
Author: Justin Kimbrough

15. Get The Complete Contact Details Of Trackvia Database Technology Users That Generates High-quality P
Author: Jordan Smith


Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: