(1) Subject to
subsections (2) and (3), at a meeting of a strata company, or of a
council of a strata company, a person shall not vote as a proxy of another
person on a motion relating to a management contract or arrangement with the
strata company if the person (the proxy ) has a financial interest in the
contract or arrangement.
Subsection (1) does not apply if —
notice of the meeting included notice of the motion and, where applicable, the
particulars described in subsection (3); and
instrument appointing the proxy expressly authorises the proxy to vote on the
motion and specifies whether the proxy is to vote for or against it.
(3) Where the motion
relates to the strata company entering into or renewing a management contract
or arrangement with a person, notice of the motion shall include —
name of that person; and
duration of the proposed contract or arrangement; and
remuneration that is payable under it.
(4) For the purposes
of this section the proxy has a financial interest in a contract or
arrangement if the proxy or his or her spouse or de facto partner —
shares (whether beneficially or otherwise) in a company; or
(b) is a
member of a firm; or
(c) is a
director or employee of a company or of a firm,
that benefits or will
benefit directly from the contract or arrangement to which the motion relates.
(5) In this
management contract or arrangement means a
contract or arrangement, or a proposed contract or arrangement, for the
provision to the strata company of services in connection with the strata
company’s powers and duties under this Act.
[Section 50A inserted: No. 58 of 1995
s. 48; amended: No. 28 of 2003 s. 196.]