Question: Is there a legislative requirement for when an AGM must be held in relation to the financial year end?
The end of the financial year for my building is 30 June. The AGM date for this year is 14 October, which is three and a half months after the end of the building’s financial year. I thought an AGM should be held within two months of the scheme’s financial year end.
Is there a legislative requirement under the Strata Schemes Management Act 2015 (the Act) for the timing of the AGM in relation to the building’s financial year end?
Answer: No, there is no specific legislative requirement for when an AGM must be held relative to the financial year end in NSW.
While it is considered practical accounting best practice to hold the Annual General Meeting before the closure of the first quarter of a new financial year (i.e. within the first three months), there is not actually a specific legislative requirement for this in the Act.
Part 2, Division 3, section 18 of the Act only stipulates that an owners corporation must hold an annual general meeting once in each financial year of the corporation.
The two month requirement contained within the legislation applies to the First Annual General Meeting (FAGM) and, as there is an overlapping obligation for an owners corporation to submit an annual return online via the NSW Strata Hub within three months of holding their Annual General Meeting, both of which contribute to the confusion around this item.
This post appears in the August 2026 edition of The NSW Strata Magazine.
Megan Parkins Tender Advisory E: megan@tenderadvisory.com.au P: 0435 893 670
