Who decides on choice of insurance? - FLAT CHATFLAT CHAT

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16/02/2020 at 2:26 pm #48494
swoo
Flatchatter
I just received the agenda for the Strata Committee Meeting to be held in March. The AGM is on Feb 17 so new committee members will be elected. At the AGM we usually impose a financial limit on the decisions the Committee can make up to $3000. The Agenda on the Committee Notice is to decide on 3 different Insurance policies each to the value of over $12,000. The meeting will be held online.

Questions:

1: Is this a Committee decision or a General Meeting

2: Would this be considered a restricted committee decision given it is over the $3000?
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18/02/2020 at 11:45 pm #48526
Jimmy-T
Keymaster
It’s only a general meeting decision if a general meeting decides it is. Otherwise it fall under the kind of decision that committee is allowed to make as if it were the whole of the owners corp.

As for the limit on spending, I assume it would not apply in this instance. But since the AGM has already occurred, perhaps you could tell us what happened.

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.
23/02/2020 at 10:40 pm #48568
swoo
Flatchatter
Chat-starter
The OC decided to impose a limit on the Strata Committee of amounts up to $10,000, insurances excluded.

At the Strata Committee meeting the Strata Manager withdrew the motions for the renewal of insurances. Reason was that the motions were posted at the time of the existing SC members who were restricted to matters up to the value of $3000. Bit strange as the new committee did not have this restriction and the meeting was held immediately after the AGM .

We now have a Strata Committee meeting next Wednesday 26 Feb to decide on insurances . I note an interesting article by Tyrone Shandiman Strata Broker who has been so professional and prompt in providing me with a competitive quote and also substantial savings on our current policies.
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