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February 2017 (Volume 12, Issue 02)

Hi Paddocks Press fan,

This month, Anton unpacks the CSOS duties of executives, in the video series based on the CSOS. Zerlinda explains meeting requirements with regards to forming a quorum and voting, whilst Carryn explains the requirement for two body corporate funds, as well as the investment of the funds in her latest blog post.
 
Course promotion:
Sign up and pay for the new Dispute Resolution in Community Schemes short course by 3 March 2017, and receive a copy of the updated Sectional Title Survival Manual. This course is 8 weeks, and starts on 13 March 2017.

Book update:
The 8th edition of the Sectional Title Survival Manual is now available for purchase on our website, along with the Sectional Title Schemes Management Act, Regulations & Rules book.

Kind regards,
Graham

NEXT EDITION: Wednesday, 29 March 2017
Paddocks Press Video 17: CSOS Duties of executives
Paddocks Press Video 17: CSOS Duties of executives

The two body corporate funds
By Dr Carryn Melissa Durham


The STSM Act 8 of 2011 and the PMRs contained in Annexure 1 to the Regulations, provide for bodies corporate to have two separate funds, a reserve and administrative fund. This article will distinguish between these two funds, and set out what each fund must be used for.

Read the article

Meetings - quorum and voting
By Zerlinda van der Merwe


This article takes a look at the quorum requirements and voting procedures at annual general meetings (“AGMs”) and special general meetings (“SGMs”), as provided for by the STSM Act 8 of 2011 and PMRs.
 

Read the article
Investment of body corporate funds
By Dr Carryn Melissa Durham

In this blog post, Carryn explains that the nature of a body corporate is to generate funds to cover expenses and to build reserves. Therefore, making profit is not their primary function. However, Section 3(1)(g) of the STSM Act 8 of 2011 states that the body corporate has the function “to open and operate an account or accounts with any registered bank or any other financial institution.” 
 
Read the blog post


Join us, for one of our University of Cape Town or Paddocks industry courses, presented online, throughout South Africa.




NEW courses launched
Short courses starting soon Corporate online group training Upcoming short courses
  • Start and Manage a Sectional Title Managing Agency  |  Starts: TBC
  • Community Scheme Financial Manager  |  Starts: TBC
  • Community Scheme Occupational Health and Safety  |  Starts: TBC
  • Sectional Title Scheme Development  |  Starts: TBC
     
For further information, please contact Leo on 021 686 3950, or email leo@paddocks.co.za.
Questions and Answers

As we have so many interesting questions on Paddocks Club, we decided to share the following two with you:

1. Ceiling damage
2. Does reserve budget apply immediately?


Prof. Paddock and the team are available to answer the Community members' questions on the Paddocks Club discussion forum. Get your questions answered by joining Paddocks Club today.

Read this month's Q&A.
How can we assist you?

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