Wondering when exactly the General Meeting of Apartment, commonly known as the Annual General Meeting needs to be held – as mandated by the Legislation? Here are the specifics as prescribed in the Acts.
The Societies Registration Act (1960) outlines the exact timing of these meetings:
(1) Every society registered under this Act shall hold every year a general meeting called the annual general meeting of Apartment at which the report of the management of the society for the previous year together with an audited copy of the balance sheet, income and expenditure account and the auditor’s report shall be submitted for approval.
(2) The first annual general meeting shall be held by a society within eighteen months of its registration. The next annual general meeting of the society shall be held within nine months after the expiry of the specific year in which the first annual general meeting was held; and thereafter an annual general meeting shall be held within nine months after the expiry of each specific year:
Provided that the Registrar may, for any special reason, extend the time within which an annual general meeting shall be held, by a further period not exceeding six months:
Provided further that except in the case referred to in the preceding proviso not more than eighteen months shall elapse between the date of one annual general meeting and that of the next.
(3) A special general meeting may be convened at any time on the requisition of the president or the chairman, if any, of the governing body, or on the requisition of not less than one-third of the number of members of the governing body, or one-tenth of the total number of members of the society, entitled to vote who shall state in writing service the business for which they wish the meeting to be convened and the governing body shall, within ten days from the date of the receipt of the requisition, proceed duly to call a meeting for the consideration of the business stated on a day not later than forty days from the date of the receipt of the requisition.
(4) If a member has no registered address in India and has not supplied to the society an address within India for the giving of notice to him, a notice advertised in a newspaper in Kannada and in a newspaper in English or any other language circulating in the neighbourhood of the registered office of the society shall be deemed to be duly given to him on the day on which the advertisement appears in the newspaper.
(Did you know your ADDA helps you save a ton of money on Newspaper Ads! In the Residents’ Database of your ADDA, you have the option to store “Alternate Address” for the Residents who “Do not Live Here”. This is of course, in addition to their email-id and phone number. Do we hear a ‘wow!’? We didn’t even talk about the flexible online NoticeBoard!
The Apartment Owners Act (1972) provides the guideline to create the Bye-Laws explicitly detailing any specifics of such Meetings.
The bye-laws shall provide for the following matters (relevant to holding meetings):
Method of calling meetings of the apartment owners; what percentage, if other than a majority of Apartment Owners, shall constitute a quorum;
Executive Committee responsible for the General Meetings
Secretary – for announcement and keeping a minute book wherein resolutions shall be recorded.
President – to preside over the meetings.