Bodies Corporate must hold Annual General Meeting

The Unit Titles Act 2010, which came into force on 20 June 2011, requires every unit title body corporate to hold a “first” Annual General Meeting before 20 December 2011. This is irrespective of whether the development was established under the Unit Titles Act 1972, and has already held an AGM in the current calendar year. However it can be combined with any AGM scheduled to take place before 20 December.

While there is only one thing absolutely required to be dealt with at that AGM, which is the appointment of a chairperson of the body corporate, there are a range of other matters that can only be dealt with at a general meeting (or by resolution in lieu of that meeting) that a body corporate needs to consider. We have identified over 59 matters that the body corporate needs to think about.

From a day to day perspective, some of the most important of these are delegations to the body corporate committee.  A body corporate must establish a committee if there are 9 or more units, or resolve not to do so. A body corporate may establish a committee if there are less than 9 units. There are at least 30 different matters that could be the subject of delegation, and these need to be individually considered. There are also matters that cannot be delegated.

Stephens Lawyers has developed a checklist of matters that a body corporate needs to think about bringing before the mandatory AGM.  To discuss your requirements or for further information, contact Alan Henwood on 04 472 9632 or by email, alan.henwood@slaw.co.nz.