35Executive committee—functions

35 Executive committee—functions (1) The executive committee of an owners corporation exercises the functions of the corporation. (2) Without limiting subsection (1), the executive committee’s functions include the following: (a) developing matters in relation to— (i) the common property; and (ii) the strategic affairs of the owners corporation; (b) submitting matters developed under paragraph (a) to the owners corporation for consideration; (c) monitoring the owners corporation’s financial performance; (d) approving the annual financial statements and budget for presentation to the owners corporation at the corporation’s annual general meeting; (e) supervising the treasurer, secretary, manager (if any) and communications officer (if any); (f) carrying out the decisions of the owners corporation made at general meetings. (3) The executive committee must exercise its functions— (a) as the corporation directs by resolution at a general meeting; or (b) in the absence of a resolution—as the committee considers appropriate. Note The resolution required under s (3) (a) is an ordinary resolution, unless the Act provides that the resolution should be a special, unopposed or unanimous resolution—see sch 3, s 3.14 (Decision-making at general meetings).