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access to information

By craig wood on Fri, 10 Aug 2018 at 14:36

I have been after certain records to unbudgeted items on the financial weighing in at a extra R150000 I asked to have a 3rd party financial consultant to accompany me to the meeting but have been denied unless they produce a Cv prooving they have a proven track record in sectional title law. Am I allowed to to take financial information from the body corporate and get advice if the figures actually add up correctly. Is it breach of confidentially to ask a 3rd party for advice on the financials of the scheme. Thanks

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RE: access to information

andrew church replied on Fri, 10 Aug 2018 at 17:43

( I asked to have a 3rd party financial consultant to accompany me to the meeting )
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Please indicate if this meeting was a trustee meeting or AGM ?
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( Is it breach of confidentially to ask a 3rd party for advice on the financials of the scheme.)
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As a member/owner/investor you may ask any question you want. In my opinion when the financials of the scheme are posted ? You may show them to anybody for an opinion etc....
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RE: RE: access to information

craig wood replied on Fri, 10 Aug 2018 at 18:14

( I asked to have a 3rd party financial consultant to accompany me to the meeting )

its was to view an invoice... every time i want to view anything to do with financials they tell me I don't understand them and I have to set Up a meeting with the trustees and the MA So I thought if I asked a 3rd party who is a finacial consultant it would apease them and avoid misunderstandings only to be told this "
A representative is exactly what it says. It is person or tool that is able to represent you on matter that they have a specific and expert knowledge of,in this case Body Corporate related matters. The person will have a proven track record of the utmost integrity and will satisfy the trustees that what is discussed in confidence will remain confidential. It is not unfair of the trustees to expect this as this is best practice."

RE: access to information

andrew church replied on Sun, 12 Aug 2018 at 21:58

In my opinion a faster way will be to point out to trustees/agent that Rule 26.(2) allows you to make an application for any information you require ? (see full rule below )
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STAATSKOERANT, 7 OKTOBER 2016 Page 57
Financial records, budgets, reports and audit
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Rule 26.(2) On the application of any member, registered bondholder or of the managing agent, the body corporate MUST make ALL or ANY of the books of account and records available for inspection and copying.
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On a related matter it might be a good idea to find out who your B.C Auditor is ?
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Keep in mind that members of a B.C may invite the Auditor to the A.G.M. and request that the Auditor answer questions and read the financials to the members present ?
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In order to assist you further please indicate if you attended your last A.G.M or intend to attend the next upcoming A.G.M ?
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RE: RE: access to information

craig wood replied on Wed, 15 Aug 2018 at 17:33

yes I did attend last agm the maintenance budget was apposed for another sgm to be held which never has yet but they still increased the levy as if it was approved. yes I intend to attend next meeting I found out that they were also charging us at the highest rate for electricity instead of charging the tier system when I found out they quickly reverted to the tier system but this has been going on for years and with 108 units 90 percent are renters have all been ripped off on power they must have been making a small fortune, and it states what was recovered and paid on the electricity is to the cent on the yearly financials which is a lie I went to the csos with proof they were doing this and the conciliator didn't even look at the proof just said my calculations are wrong> also found out that the quotes for our roof repair what they said they would do and what the quote says wasnt done yet they got paid. apreciate the help here

RE: access to information

replied on Wed, 15 Aug 2018 at 14:41

Andrew could the Auditors refuse to supply a Body Corporate member with past years financials , claiming that they only deal with the MA and registered trustees and that the information is confidential ?. The member was prepared to produce ID , Deeds documents ect .

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