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Appointment Managing Agent

By Peter Brand on Sun, 10 Jun 2018 at 14:25

Is a Special Resolution required?
If so, must the Special Rewsolution be unanimous?


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RE: Appointment Managing Agent

Murray Bennett replied on Sun, 10 Jun 2018 at 15:27

The body corporate may, if trustees so resolve, and must if required by —
(a) a registered mortgagee of 25 per cent in number of the
primary sections; or
(b) a resolution of members,
appoint a managing agent to perform specified financial, secretarial, administrative or other management services under the supervision of the trustees.
(6) A management agreement for any managing agent must comply with the requirements as may be set out in the regulations, .
(7) A management agreement may not endure for a period longer than three years and may be cancelled, without liability or penalty, despite any provision of the management agreement or other agreement to the contrary —
(a) by the body corporate on two months notice, if the cancellation is first approved by a special resolution passed at a general meeting, or
(b) by the managing agent on two months notice.
(8) The body corporate or trustees may by ordinary resolution cancel the management agreement in accordance with its terms or refuse to renew the management agreement when it expires.

‘‘special resolution’’ means a resolution—
(a) passed by at least 75% calculated both in value and in number, of the votes of the members of a body corporate who are represented at a general meeting; or
(b) agreed to in writing by members of a body corporate holding at least 75% calculated both in value and in number, of all the votes;

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