Last week we were recommending postponing AGMs in accordance with the April 24th Order in Council. The Order in Council permitted those condo corporations with AGMs required to be held within the emergency period, the ability to postpone their AGMs until 90 days from the date that the emergency period ends.
Why the recommendation?
Many condo corporations feel uneasy about moving to a completely virtual meeting platform and have expressed concerns about rushing into this form of meeting. Some have been waiting to see if a better option is to do a hybrid meeting at a later date, so that owners can both attend in person and have the option of viewing the meeting and voting on line.
There was also an issue with the wording in the Order in Council which provided that virtual meetings and electronic voting (without a by-law) would only be permitted during the emergency period only. This would result in having to convert a previously called meeting which date fell after the emergency period ended, to a proxy or in person meeting without the ability to hold it virtually and doing the vote electronically.
Well now things have changed, yet again. Bill 190 received Royal Assent today. This Bill now clarifies that virtual meetings and electronic voting can still be used (even without a by-law) for a period of 120 days from the date that the emergency period ends. Big news!!!!
Take away: You can call your AGM within the next 3 or 4 months, hold it virtually and do an electronic vote. Don’t forget to add to the AGM agenda, a Virtual Meeting and Electronic Voting by-law.
To hear a bit more about Bill 190, register here for Condo Adviser’s May 13th 5:00 pm webinar.