sec.386Body corporate to call general meeting etc. if motion submitted to it

sec.386 Body corporate to call general meeting etc. if motion submitted to it

This section applies if a motion under section 379 is submitted to the body corporate for an existing scheme. Within 2 months after receiving the motion, the body corporate must— identify the pre-adjustment order entitlements for the existing scheme; and if section 381 applies to the scheme, obtain a valuation by a registered valuer stating the respective market values of lots included in the scheme; and call a general meeting of its members to decide what (if any) changes to the pre-adjustment order entitlements for the scheme should be made under sections 381 to 384. The notice of the general meeting must be accompanied by written evidence of the pre-adjustment order entitlements for the existing scheme and, if a valuation is obtained under subsection (2)(b), the valuation. The general meeting must be held within 28 days after it is called. s 386 ins 2011 No. 9 s 41 (sec.386-ssec.1) This section applies if a motion under section 379 is submitted to the body corporate for an existing scheme. (sec.386-ssec.2) Within 2 months after receiving the motion, the body corporate must— identify the pre-adjustment order entitlements for the existing scheme; and if section 381 applies to the scheme, obtain a valuation by a registered valuer stating the respective market values of lots included in the scheme; and call a general meeting of its members to decide what (if any) changes to the pre-adjustment order entitlements for the scheme should be made under sections 381 to 384. (sec.386-ssec.3) The notice of the general meeting must be accompanied by written evidence of the pre-adjustment order entitlements for the existing scheme and, if a valuation is obtained under subsection (2)(b), the valuation. (sec.386-ssec.4) The general meeting must be held within 28 days after it is called.

• (a) identify the pre-adjustment order entitlements for the existing scheme; and
• (b) if section 381 applies to the scheme, obtain a valuation by a registered valuer stating the respective market values of lots included in the scheme; and
• (c) call a general meeting of its members to decide what (if any) changes to the pre-adjustment order entitlements for the scheme should be made under sections 381 to 384.