This Q&A about the length of time required to keep records of the AGM has been answered by Janene van Maanenberg, Professional Body Corporate Management.
Question: How long do we need to keep records of the AGM, specifically the Financial Reports & Secretary’s Report?
Answer: Our company policy is to keep all hard copies of records for 7 years.
According to the ATO current requirements, financial records are required to be held for a minimum of five years.
Our company policy is to keep all hard copies of records for 7 years. In the event that there is unusual information pertaining to for example, a change of by-laws, we would recommend keeping those records indefinitely.
It is advisable that all AGM documents are kept in a secure electronic format indefinitely.
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This post appears in Strata News #220
Janene van Maanenberg
Professional Body Corporate Management
P: 0417 365 352