committees-committees-【移投策】

committees

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2017-05-25

As an owner of a property in a complex, Under Chapter 224 (Article 38KB) of the Cyprus Constitution, you have the right and the obligation to proceed with the official formation of the committee. In order to proceed with the official enactment of the committee a General Assembly should be convened at a location to be determined, whereby all owners will be invited to attend and vote the official committee on board. 

 

All owners should be advised of the General Assembly (which can be with an agm) in a timely manner in order for each owner to be able to attend and/ or appoint someone to represent them at the meeting. You should attempt (and have documented proof of your attempts) to contact each specific owner.  The law states about 7 days but a month (minimum) should be given as many co-owners live abroad. Non attending owners will be able to submit their confirmation of attendance and acceptance of the formation of the committee via proxy authorizing an attending owner to be their proxy

 

At the General Assembly, the first official item on the list should be the voting of the enactment of the committee. Each property has 1 vote… the votes should be cast in order to elect the committee.

 

Once the committee has been enacted then to vote for the committee members, (usually president, vice president, secretary, treasurer and 3 ordinary members) elected, then any other business should be discussed including the maintenance / management of the complex. The budget and any items needed.

 

All owners are obligated to pay maintenance and management fees in conjunction with the other owners according to the percentage share of the property which they own.  The communal fees cover, communal electricity and water bills, cleaning of the communal pool (if any), cleaning of communal areas, communal insurance and much more. The expenses should be shared between the owners and according to the covered sq metres.

 

The committee as a collective unit will then have legal powers which will enable them to proceed legally for any matter related to the project and / or ownership of the project. The legal committee, has the responsibility to act within the law, they ensure that the project is maintained correctly with all insurances paid, local and national laws complied with the health and safety of the owners and users of the complex in mind. The committee has the power to sue non payers.

 

Thus the official committee is formed.

 

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