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Trustees
There are 24 units in our building. What is the minimal number of trustees that can be appointed for the building? Would two be enough if more are not available to act as trustees? Also, could just these two appoint a Managing Agent for the building?
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RE: Trustees
Hi
The minimum number required by law is two (PMR 4). The members usually set the number at the AGM (PMR 56), but this may not be less than two. The trustees also have to comply with requirements of PMR 5.
The elected trustees are empowered i.t.o. PMR 26 "… to appoint for and on behalf of the body corporate such agents and employees as they deem fit …"
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