Do we have to notify the Banks of our AGM?

Take a look at PMR 15 of the STSM Act

PMR 15.                           (1) Subject to sub-rule (7), at least 14 days’ written notice of a general meeting specifying the place, date and hour of the meeting must be given to—

• all members;
• all registered bondholders;
• all holders of future development rights; and
• the managing agent.

The emphasize is on “Registered bondholders”  that would mean Banks or other financial institutions that notified the Body Corporate of their interest in a certain section in the scheme.  This is normally then indicated on the insurance policy.

So the answer is yes that Banks have to be notified of general meetings of the Body Corporate.  Banks don’t normally show up for these meetings but it is possible to declare a meeting null and void if the Banks have not been notified.