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In This Volume

103 (1) The strata corporation must prepare a budget for the coming fiscal year for approval by a resolution to be passed by a majority vote at each annual general meeting.

  • (2) The proposed budget must be distributed with the notice of the annual general meeting under section 45 and must be accompanied by a financial statement.
  • (3) The budget and financial statement
  • (a) must contain the information required by the regulations, and
  • (b) may be in the form set out in the regulations.
  • (4) The proposed budget may be amended by a majority vote at the annual general meeting before the budget itself is put to a vote.

1998-43-103, effective July 1, 2000 (B.C. Reg. 43/2000).

REGULATIONS

The Strata Property Regulation, B.C. Reg. 43/2000, is included at chapter 57 (Strata Property Regulations) in this Manual.

Financial Statements: Section 103(3)

See s. 6.7 of the Strata Property Regulation regarding the contents of the financial statement required under s. 103(2) of the Act.

Budget Preparation: Section 103(3)

See s. 6.6 of the Strata Property Regulation regarding the requirements for budget preparation.