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GENERAL INFORMATION
Contact Details Telephone 8531 8100 Facsimile 8531 8190 Email vbcs@vbcs.com.au Postal Address Locked Bag 1291 Port Melbourne 3207 Office Location 64 Fennell Street Port Melbourne 3207
Melway Reference: 43 C11 GPS Coordinates: S 37° 49.590' E 144° 56.442' Office Hours 9am to 5pm Mon - Fri After Hours Emergency Telephone: 9883 6428 Only to be used
ABN: 85 007 034 522
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Legal Requirements Of Owners Corporation Members
As owners corporation has a number of obligations imposed upon it, so too are obligations imposed upon the members of owners corporation. Each member is obliged to:
The obligations imposed upon members arise because of the shared interest in a property affected by owners corporation. The obligations reflect the communal nature of owners corporation and are intended to provide a clear guide so that all members may enjoy the ownership of the property. To allow participation in owners corporation affairs, there is a right to attend the meetings of the owners corporation in order to partake in the decisions of the owners corporation. If a member is unable to attend, he or she may appoint a proxy to represent their interests at a meeting. The proxy need not be a member of the owners corporation. It is in the interests of a member to attend the Annual General Meeting of the owners corporation as this meeting will amongst other matters, review the insurance in place for the owners corporation and determine the budget of the owners corporation which will result in the levies to members. The Annual General Meeting also provides members with the opportunity to discuss works proposed to be undertaken. By attending the meeting a member is able to voice his or her opinion as to matters which they believe the owners corporation should consider. Where an owners corporation appoints a committee, and most owners corporations choose to do so, a member is eligible to serve on the committee is elected by the members of the owners corporation at the Annual General Meeting. A person acting as a proxy for a member may nominate him or herself for election to the committee. The committee acts on behalf of members between Annual General Meetings overseeing the running of the owners corporation. At the Annual General Meeting the members appoint the committee and determine the powers to be delegated to it in order that it may carry out it's functions on behalf of members during the year. The owners corporation may impose certain limits on the committee, for example, limiting the level of discretionary expenditure.
Stratum and Company Share Properties Stratum and company share properties have similar requirements which are set out in the company's constitution and service agreement. The particular requirements may vary and it is necessary to consult the appropriate documentation to ascertain the specific conditions applicable. ©2010 Victoria Body Corporate Services Pty Ltd.
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