Who can attend the AGM of a Body Corporate?
Short answer – only owners and their proxies and a handful of other roleplayers.
Longer answer – The STSM Act provides that notices of general meetings must be given to all members (they can then either attend themselves or give a proxy to someone to attend on their behalf). Notice must also be given to all the registered bondholders – but I have not attended a general meeting yet where a bondholder was present. The third group of people notice must be given to is the holder of any future development rights – ie the Section 25 right to extend the scheme. The last person to be given notice of a general meeting is the Managing Agent – which is a moot point as we normally send the notices of the meeting.
Note that bondholders; Section 25 right holders as well as the Managing Agent can be asked to leave the meeting at any stage as per PMR 15(5). Would be difficult for us to do the minutes of the AGM though if we are asked to leave midway through the meeting!
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.
(5) Registered bondholders, holders of future development rights and the managing agent may attend general meetings and may speak on any matter on the agenda, but they are not, in those capacities, entitled to propose any motion or to vote; provided that such persons are not entitled to attend any part of a general meeting if the members resolve that their presence would unreasonably interfere with the interests of the body corporate or any person’s privacy.
In both these instances it states – Agreed to in writing. So they have to vote to be heard.
There is also no provision in the STSM Act that states that an abstention / no vote can be counted as a vote in favor. Maybe this is where the confusion is coming from as this was a provision in the old Act (but even then it was only for a unanimous resolution) This is no longer the case.