ALL >> Business >> View Article
Executive Committee Of The Owners Corporation
Total Articles: 74
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.
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.
Business Articles1. How Ultratax In Cloud Offers Smart Taxation Solutions To Businesses?
Author: John Cox
2. Importance Of Electrical Surge Protection
3. Laparoscopic Gastric Bypass Part - Iii
Author: Unknown Member
4. Texas Property Tax Deadline Changes In 2018
Author: O'Connor & Associates
5. Take Your Business To New Heights
6. Physiotherapy Services In Mississauga
7. Bariatric Coordinator
Author: Gastric bypass California
8. Get The Best Digital Marketing Solutions
Author: makemy website
9. 4 Of The Most Familiar Roofing Services In Nyc You May Need From Time To Time
Author: Gabriel M
10. Avail Reliable Customs Broker Us Border To Ensure Smooth And Efficient Transit Of Import Goods
11. The Indian Wedding – A Day Of Joy And Celebration Like No Other
Author: Shabu Miah
12. Business Card Design Services In Hyderabad – Saga Bizsolutions
13. Online Course In E-commerce And Selling Online
Author: nicole ve
14. Financial Strategies In Restaurant Business Plan
15. Branded Watches For Men