This Q&A about management rights explained when it comes to varying a management rights agreement has been answered by Frank Higginson, Hynes Legal.
Questions: Can terms of a Caretaker’s contract be altered without first referring the proposed change to the lot owners?
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Can the Body Corp Committee alter the terms of a Caretaker’s contract without first referring the proposed change to the remaining owners, or is a resolution by Extraordinary General Meeting or Annual General Meeting required?
Answer: The only way for a body corporate to agree to vary a management rights agreements is through ordinary resolution at general meeting.
No – they can agree in principle and support the change at general meeting but the only way for a body corporate to agree to vary a management rights agreements is through ordinary resolution at general meeting.
Remember also that this can never be done unilaterally. Any change proposed by a body corporate needs to be agreed with by the resident manager.
Read More:
QLD: Voting “NO” to Extensions and Assignments of Management Rights Agreements
QLD: Conditioning management rights assignments
QLD: Management Rights Questions – Who Really Owns the Management Rights?
This post appears in Strata News #128
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The post QLD: Q&A Management Rights Explained – Varying A Management Rights Agreement appeared first on LookUpStrata.