sec.81KGeneral meeting to consider termination resolution

sec.81K General meeting to consider termination resolution

This section applies if a body corporate for a community titles scheme passes an economic reasons resolution and complies with section 81J . The body corporate may call a general meeting to consider a motion for a termination resolution. The general meeting must not consider any other motion proposing an alternative way to terminate the scheme. A motion for a termination resolution may only be passed if 75% or more of all lot owners vote for the motion. One vote only may be exercised for each lot included in the scheme. A vote can not be exercised by proxy. If the regulation module applying to the scheme provides for a motion to be decided by secret ballot, the motion must be decided by secret ballot. Also, despite anything in the regulation module applying to the scheme, an owner of a lot may vote on the motion if the owner owes a body corporate debt in relation to the lot at the time of the meeting. s 81K ins 2023 No. 29 s 7 (sec.81K-ssec.1) This section applies if a body corporate for a community titles scheme passes an economic reasons resolution and complies with section 81J . (sec.81K-ssec.2) The body corporate may call a general meeting to consider a motion for a termination resolution. (sec.81K-ssec.3) The general meeting must not consider any other motion proposing an alternative way to terminate the scheme. (sec.81K-ssec.4) A motion for a termination resolution may only be passed if 75% or more of all lot owners vote for the motion. (sec.81K-ssec.5) One vote only may be exercised for each lot included in the scheme. (sec.81K-ssec.6) A vote can not be exercised by proxy. (sec.81K-ssec.7) If the regulation module applying to the scheme provides for a motion to be decided by secret ballot, the motion must be decided by secret ballot. (sec.81K-ssec.8) Also, despite anything in the regulation module applying to the scheme, an owner of a lot may vote on the motion if the owner owes a body corporate debt in relation to the lot at the time of the meeting.