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A special resolution is a motion that must be passed at a general meeting. The number of “yes” votes must be greater than two thirds of the votes cast AND the “no” votes are not greater than 25% of the total number of lots in the scheme, and the total of the contribution lot entitlements for the lots for which “no” votes are cast is not greater than 25% of the contribution lot entitlement.

 

Something to contribute? Click on the pencil. Last edited by an Administrator