160Establishment of committee

#### 160 Establishment of committee 160 Establishment of committee > > (1) If the owners corporation passes a motion that the strata renewal proposal warrants investigation by a strata renewal committee, the owners corporation must, by resolution at a meeting— > > > > > (a) establish a strata renewal committee to prepare a strata renewal plan for the strata scheme, and > > > > > (b) elect its members. > > > (2) A person who has a financial interest in more than 25% of the lots (other than utility lots) in the strata scheme must not vote in a resolution to establish a strata renewal committee or be elected as a member of the committee unless the person has disclosed that fact to the owners corporation. > > > (3) The strata renewal committee must consist of a chairperson and the number of other members, not more than 8, determined by the owners corporation. > > > (4) A strata renewal committee is taken to be established on the day its members are first elected under this Division. > > > (5) A motion for the resolution to establish a strata renewal committee may include forms of motion for the matters the owners corporation considers appropriate, including the matters referred to in clause 2 of Schedule 7.