Did you know?
- With the new standardized proxy forms, owners have the option of delegating the power to vote to their proxy in the manner the proxy sees fit. In other words, the proxy-giver doesn’t have to indicate how they want their proxy-holder to vote on matters at an owner’s meeting. The proxy-holder may choose how to vote. This includes voting for the election or removal of directors.
- When sending out a Preliminary Notice of Meeting for a requisitioned meeting, the Preliminary Notice must be sent out at least 15 days before the Notice of Meeting. A Preliminary Notice of Meeting for any other meeting of owners must be sent out at least 20 days in advance of the Notice of Meeting.
- Candidates for election to the Board of Directors must provide a disclosure statement before they are elected or appointed to the Board. If a person provides their disclosure statement by the deadline provided in the Preliminary Notice, the disclosure statement must be included in the Notice of Meeting. If a person is nominated at an AGM and has not provided their disclosure statement prior to the AGM, the candidate must provide it orally or in writing at the AGM.
- In order to send notices via e-mail or another type of electronic communication, the board must pass a resolution specifying the methods of electronic communication that it will use to serve notices on owners and mortgagees. The corporation may only send notices to owners or mortgagees who have provided a written agreement to receive the notices electronically. The Ministry has released a standardized form that may be used, however it is not mandatory.
- For proxy forms filled out by a corporate unit owner, the person filling out the form must either 1) affix the corporate seal to the proxy form, or 2) attach a statement that the person signing has the authority to bind the corporation.
- If you are the authorized representative of an owner or mortgagee, when filling out the proxy form you must attach a copy of the document that authorizes you to act for that owner or mortgagee, for example, a power of attorney.
- Boards can hold board meetings by teleconference or another form of electronic communication that allows directors to communicate concurrently, if all directors consent to holding board meetings that way. This does not include e-mail.
Coming soon to a condo near you:
- The owner-occupied position (which will be known as the “non-leased voting unit” position) will no longer be a mandatory position. Once the amended section 51 comes into effect, an owner-occupied position (or a non-leased voting unit position) will only be required if the board receives a request from an owner of a non-leased voting unit that the Corporation reserve a position on the board as the non-leased voting unit position. This will also only be applicable if a minority of the units in the Corporation are non-leased voting units.
- A corporation may be able to use their reserve fund for the purpose of major repair of units, if the corporation has the obligation to repair in that regard. This means, if a corporation’s declaration specifies that the corporation is required to repair certain portions of units, they may use their reserve fund to do so.
- New Regulations under the Condominium Management Services Act will come into effect on February 1, 2018 that include: a new Code of Ethics, provisions on the Discipline and Appeal Committees, a requirement to maintain errors and omissions insurance and fidelity insurance, and obligations relating to management contracts.
- The Province of Ontario is proposing changes to a Regulation to the Condo Act that would lower the level of owners’ consent required to allow for an electrical vehicle parking exchange in a condo. Currently, an amendment to declaration with the consent of 80 or 90% of owners is required. The Province is proposing to lower this amendment to declaration threshold to 50%. The Province is currently requesting feedback from the industry. We will keep our readers updated on any developments.
