Mr Noah Itall who is the Chairperson at one of our complexes say that we should keep minutebooks of the scheme forever but one of the other Trustees say that the Act changed on this – what do we do now?
In the previous PMR’s in PMR 34(2) the Act stated that minutebooks must be kept in perpetuity. The new STSM Act does not contain that provision specifically but if you look at PMR 27(2) the general opinion is still that minutebooks must be kept for as long as the Body Corporate exists. If a Trustee asks you what portion of the Act states that minutes must be kept in minutebooks you can refer them to PMR 18(3) that states that one of the duties of the Chairperson is to have the minutebooks available at all meetings.
Quotes from the STSM Act
PMR 27(2)The body corporate must prepare and update the following records —
(a) minutes of general and trustee meetings, including the following information‑
- the date, time and place of the meeting;
- the names and role of the persons present, including details of the
authorisation of proxies or other representative; - the text of all resolutions; and
- the results of the voting on all motions;
PMR 18
(3) A chairperson must—
- ensure that the scheme’s rules, the minute books and any other documents relevant to the items of business on the agenda are available at the meeting;