Paddocks Press is a monthly free digital newsletter published to educate and update the sectional title community. In this issue (Volume 12, Issue 02) Anton unpacks the CSOS duties of executives, in the video series based on the CSOS.
Meetings - quorum and voting - Zerlinda van der Merwe
This article takes a look at the quorum requirements and voting procedures at annual general meetings (“AGMs”) and special general meetings (“SGMs”), as provided for by the STSM Act 8 of 2011 and PMRs.
The two body corporate funds - Dr Carryn Melissa Durham
The STSM Act 8 of 2011 and the PMRs contained in Annexure 1 to the Regulations, provide for bodies corporate to have two separate funds, a reserve and administrative fund. This article will distinguish between these two funds, and set out what each fund must be used for.
Blog Post - Investment of body corporate funds - Dr Carryn Melissa Durham
In this blog post, Carryn explains that the nature of a body corporate is to generate funds to cover expenses and to build reserves. Therefore, making profit is not their primary function. However, Section 3(1)(g) of the STSM Act 8 of 2011 states that the body corporate has the function “to open and operate an account or accounts with any registered bank or any other financial institution.”
Paddocks Club Q and A - Paddocks Club Team
As we have so many interesting questions on Paddocks Club, we decided to share the following two with you:
- Ceiling damage
- Does reserve budget apply immediately?