Had this question - Can you please send me the extract from the Act stating that if a special resolution is taken at an Adjourned AGM that there is a 10-day cooling period before the decision is actually implemented?
This is in fact not what the STSM Act states.
The STSM Act in 2016 added a clause regarding this – where the special resolution is in essence passed by less than 50% of the members (in PQ). (PMR 20). This could happen at any general meeting – not just an adjourned meeting seeing that the quorum requirements for a general meeting is mostly 33.33% of the members in PQ.
In cases like this the Act prescribes that the members should wait a week before implementing the resolution. So, you need to notify all members (by sending them the minutes of the meeting stating that there were only two people present who approved the Conduct Rules) and then they have a week to object or accept this. If someone objects (must hold at least 25% of the votes in PQ) then another SGM must be called to discuss the resolution. If nobody objects then the resolution is taken as passed.
Quote from the STSM Act:
PMR 20 (9)If a special resolution is passed at a general meeting by members holding less than 50 per cent of the total value of all members’ votes—
- the body corporate must not take any action to implement that resolution for one week after the meeting, unless the trustees resolve that there are reasonable grounds to believe that immediate action is necessary to ensure safety or prevent significant loss or damage to the scheme; and
- within seven days from a resolution referred to in sub-rule 9 (a), members holding at least 25 per cent of the total votes of all members in value may, by written and signed request delivered to the body corporate, require that the body corporate hold a special general meeting to reconsider the resolution.