Our Managing Agent said that in order to start with our AGM we need a quorum of 33% of the owners in number and in PQ present at the meeting. What does the STSM Act say about this?
Short answer – I think your Managing Agent is a bit confused!
If you look at the STSM Act then you will see that the quorum requirements will depend on the agenda of the meeting.
If it is a normal AGM / SGM with no unanimous resolutions then the quorum requirement is as follows: (so this counts for ordinary and special resolutions)
- for a scheme with less than 4 primary sections or a body corporate with less than four members, by members entitled to vote and holding two thirds of the total votes of members in value;
- for any other scheme, by members entitled to vote and holding one third of the total votes of members in value,
So, for a meeting where there is an ordinary or special resolution on the agenda the quorum requirement is just a percentage of owners calculated in value (participation quota)
It is only for a unanimous resolution that the quorum requirements differ. Let’s look at the wording of the STSM Act:
- passed unanimously by all the members of the body corporate at a meeting at which—
- at least 80% calculated both in value and in number, of the votes of all the members of a body corporate are present or represented; and
- all the members who cast their votes do so in favour of the resolution; or
- agreed to in writing by all the members of the body corporate.
So, where there is a unanimous resolution on the agenda you need 80% of the owners in number (members) and in value (participation quotas) to be present at the meeting.