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In This Volume

  • 6.7 (1) For the purposes of section 103(3) of the Act, the financial statement must contain the following information for the fiscal year to which the financial statement relates as of a day that is within the 2 month period before the date of the annual general meeting:
  • (a) the opening balance in the operating fund and the current balance;
  • (b) the opening balance in the contingency reserve fund and the current balance;
  • (c) the details of the strata corporation’s income from all sources, except special levies;
  • (d) the details of expenditures out of the operating fund, including details of any unapproved expenditures under section 98 of the Act;
  • (e) the details of expenditures out of the contingency reserve fund, including details of any unapproved expenditures under section 98 of the Act;
  • (f) income and expenditures, if any, by special levy under section 108 of the Act.
  • (2) Within 8 weeks after the end of its fiscal year, the strata corporation must prepare a financial statement updated to the end of the fiscal year.
  • (3) For the purpose of distribution with notice of the annual general meeting, a strata corporation may provide, by bylaw, that the financial information required under subsection (1)(c) to (e) be provided in a summary form.
  • (4) Despite a bylaw under subsection (3), the strata corporation must place before the annual general meeting a financial statement that complies with subsection (1).
  • (5) Despite section 36(3) of the Act, if a person who is entitled to a notice under section 45 of the Act makes a request in the period between the date that notice was given and the date of the annual general meeting, the strata corporation must promptly provide a copy of the financial statement that complies with subsection (1) to that person.

[am. B.C. Reg. 241/2001, s. 2(c).]