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DIRECTIVES TO TRUSTEES TO BE VOTED UPON AT THE AGM

DIRECTIONS TO TRUSTEES

To be voted on at the AGM

 

1. All owners have the right to be given notice of trustees’ meetings with the agenda, unless they have waived this right. The notification, with the proposed agenda, should be sent to all owners of record via email and be posted on each floor of the building by the lift, three days prior to the Trustee Meeting. Approved Minutes of Trustee Meetings can be sent to any owner via email upon request.

 

2. The Trustees cannot raise a special levy or enter into contracts for major renovation projects over R100,000 without first convening a special general meeting and allowing the owners to give them a direction in this regard. Such a direction would, in terms of section 39(1) of the Act, bind the trustees and they could not reject it.

 

3. The Trustees must arrange for changes with bank signatures for signing power on the bank account within two weeks after the election at the AGM.

 

4. The Trustees must always retain the approval of at least one Trustee for payments from the bank account and not give the sole and final authority to a Managing Agent and his or her spouse.

 

5. Trustees cannot enter into Arbitration or a High Court application without first convening a special general meeting and allowing the owners to give them a direction in this regard. Such a direction would, in terms of section 39(1) of the Act, bind the trustees and they could not reject it.

 

6. Trustee must follow the Sectional Title Act to convene the AGM within four months of the beginning of the budgeted year.

 

 

RESTRICTIONS ON TRUSTEES TO BE VOTED ON AT THE AGM

Enter concerns here

1. The trustees cannot spend more than R50,000 per month on any one item or on any project without prior approval from the owners at a Special Meeting.

 

2. The trustees may not exceed the approved budget amount for specified items by more than 50% without the approval of the owners.

 

 

 (For more details on special meetings and special resolutions see IHFM’s web site on the FAQ section dealing with Special Resolution). http://www.ihfm.co.za/ihfm/faqs.php?fcid=1