17 Owners May Hold First Annual General Meeting

In This Volume

17 If the owner developer does not hold the first annual general meeting as required by section 16,

(a) an owner may hold the first annual general meeting after giving notice in accordance with section 45 to the persons referred to in section 45 and to the owner developer, and
(b) the owner developer must pay to the strata corporation an amount calculated according to the regulations.

1998-43-17, effective July 1, 2000 (B.C. Reg. 43/2000).

REGULATIONS

The Strata Property Regulation, B.C. Reg. 43/2000, is included at chapter 58 (Strata Property Regulations).

Delay in Holding First Annual General Meeting: Section 17(b)

See s. 3.1(2) of the Strata Property Regulation for amounts payable by owner developers to strata corporations for a delay in holding the first annual general meeting.

Strata Plans Deposited under the Condominium Act: Section 17(b)

Section 17.3(2) of the Strata Property Regulation provides that s. 17(b) does not apply if a strata plan was deposited under the Condominium Act, and the owner developer holds the first annual general meeting within the time limit that would have applied if the Condominium Act were still in force (that is, the earlier of the date on which 60% of the strata lots have been conveyed by the owner developer, or a date nine months after registration of the strata plan).