How to hold a two-part shareholders meeting
AGM will give the scheme an opportunity to discuss financial and other issues that affect you and other landowners, and plan for the year ahead.
1. Pick a date
Decide with other owners when and where the AGM will be held. Online meetings can be held as needed.
2. Make sure both owners attend
A two-lot scheme requires that an owner representing each lot attends a meeting to get it going. or the owner is Power of Attorney (PDF 163.15KB).
3. Read the agenda and take minutes
The AGM should include a set of items, motions (that will be voted on), and anything else you would like to discuss with other owners. They are:
- attendance and minutes:
- Confirm that the owners from each lot are present and have a motion to accept the minutes of the previous AGM (if held).
- utility and repair:
- Items that determine the business operator of electricity, gas, etc. for common property in a two-compartment system.
- Items to discuss Defects in buildings and how to fix them If there are buildings within the scheme covered by the warranty period.
4. Discuss finances
Discuss finances properly by proposing and voting on:
- motion to accept financial statement Past accounting period. If your two-lot scheme is exempt from capital expenditure funds, this only needs to be set aside for administrative funds.
- A motion to determine how to address unpaid or overdue tax collection, if applicable.
5. Share meeting minutes and keep records
Each owner must obtain a copy of the minutes within 7 days after the meeting.You should also leave a record Provide meeting agendas, financial statements, and other information for at least seven years.
https://www.nsw.gov.au/simple-guide-to-holding-an-agm-a-two-lot-scheme A Simple Guide to Holding a Shareholders Meeting in Two Splits