What happens if support drops below 25% after calling an EGM?
Residents have submitted the required 25% of owners necessary to call an EGM. The date and venue have been determined and necessary papers including motions to be considered forwarded to owners.
What happens if prior to the meeting date when one or more of the owners who originally requested that the meeting occur withdraw their support? This would mean that there is no longer 25% support. Does the 25% requirement only apply to calling the meeting? Does the meeting still occur or is it now void and not required?