G Kouzalis llc would like to take this opportunity to remind all committees (Management committees of communal complexes situated in the Republic of Cyprus) of the Standard agenda for an AGM (Annual General Meeting). Each agenda can be added and amended according to the requirements of the committee however there are some standard points / items which must be included on the agenda of the AGM.
Quorum check. It is imperative to ensure that a Quorum is achieved in order for the AGM to take place. Quorum is established if there are present at the meeting either in person or with proxy more than 50% of the owners at the complex. In the event Quorum is not achieved, the meeting should be postponed for 7 calendar days at the same time and location. On the second meeting, after 30 minutes quorum is achieved by those owners present or by proxy and the meeting can proceed.
Election of the meeting president and meeting secretary. Once quorum has been established, then the meeting can begin, and the meeting president and secretary should be elected by the owners present. The meeting president should lead the meeting and the meeting secretary should minute the meeting. Voting should be made by a raising of hands.
Approval of minutes of last year’s AGM. The minutes of last year’s AGM should be approved by all present. The minutes should have been distributed prior to the AGM to allow owners to re read them (as these should have been distributed after the last AGM) and to make any notes or comments. Voting should be made by a raising of hands.
Presentation of committee accounts. Again, the accounts should have been distributed prior to the AGM to allow owners to study them. The treasurer of the committee should present the accounts and any questions on the accounts should be asked and answered.
Election of the committee. The term of a committee is the term between last AGM and the next. At each AGM the committee of the complex should be elected. The minimum members of the committee are as follows:
- President / Chairman
- Secretary
- Treasurer.
The committee should be an odd number to ensure there is always a deciding vote and should be between 3 and 5 members.
Any other business. Any owner can use this time to ask any question which has not been covered in the account’s presentation. Some committees do include other items on the agenda such as; progress made by the committee during the current financial year, committee goals / aims for the new year, however the above is the minimum required items.
For more information you may contact our committee department by email on [email protected] or by calling 00357 23811788
