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If the developer holds unit entitlements on unsold lots, is there a restriction on the numbers of unit entitlements he can use to vote at an EGM? Would this count as proxies so he can only count 5%, or as owner can he use all of his unit entitlements? Many thanks.
- This topic was modified 1 year, 11 months ago by .
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Until the owner has sold more than 50 percent of the units, the voting power of their unit entitlement is reduced to one third of the actual figure.
Thereafter, they can vote as, and hold the prescribed number of proxies for each of the units they own.
There are also restrictions the ‘original owner” or developer voting on building defects under Schedule 1, section 15 of the Act
15 DEVELOPER OR LESSOR EXCLUDED FROM VOTES RELATING TO BUILDING DEFECTS
The developer or lessor of a leasehold strata scheme is not entitled to vote, or exercise a proxy vote, on a matter concerning building defects in, or the rectification of building defects in, building work to which Part 11 of this Act applies.
Part 11 of the Act is the whole section relating to building defects.
The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.
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