Raptor’s View Home Owner’s Association NPC Information Evening on the new Memorandum of Incorporation and Rules 18 June 2015
Who are we? Introduction Briefed to amend the MOI and the Estate Rules Why are we here? To provide an overview of the changes to the MOI and to clarify any queries Why are you here? The MOI is required to be adopted by a special resolution of members
The Association is now Overview a non-profit company The memorandum and articles of association are replaced with one MOI The rights, duties and responsibilities of shareholders, directors and others are now set out in the MOI Through the MOI, companies now elect which provisions they wish to comply with, amend, opt out of and record relevant mandatory provisions May 2011 The new Companies Act comes into force
The need for a new Unintended negative Compliance with provisions MOI consequences of non-compliance specifically applicable to non- with the Companies Act. profit companies. Subjected to inappropriate Removal of special powers granted provisions / unable to enjoy to the Developer which are no benefits available in terms of the longer appropriate Companies Act
The need for a new MOI Elimination of duplication between MOI and the Estate Practical amendments to address Rules day to day issues encountered by the Association.
Salient Provisions of the New MOI Members’ rights Amendment of the definitions to receive information (cl 8) in the MOI (cl 1) The status of the Association - Shortening of notice period for non-profit company (cl 2) Members meetings and the procedure for calling members Amendment of the MOI (cl 3) meetings (cl 9) f
Salient Provisions of the New MOI Round robin members Minimum duration of letting resolutions (cl 12) period (cl 22) Number of directors (cl 14.1) Restriction of building on residential portions (cl 23) Suretyships - binding of natural persons for the obligations of The Association Rules versus the the juristic person (cl 21.1.1.2) Estate Rules (cl 24) f
The Estate Rules The Home Owner Rules Dovetailed with MOI The Contractor Rules The Architectural Rules Schedule of Fines Removal of uncertainty Deletion of duplication Clarification of language
1. The Home Owners Rules • Introduction to the Rules • Insertion of definitions • Flooding of watercourses and traversing roads which have flooded (cl 3) • Extension of fauna and flora rules to all persons on the Estate (cl 4) • Dumping and removal of rubble, picnics (cl 5) • Domestic animals (cl 5.10) • Security and access procedures (cl 6)
2. The Architectural Rules • Introduction to the Rules • Insertion of definitions • Building pegs, building area and registration and approval of building projects • Provision of reasons if the project is not approved (cl 5.5) • Architectural specifications
3. The Contractor Rules • Governs contractors’ activities in the Estate • Insertion of definitions • Countersignature by the contractor • Selection of recommended contactors (cl 3) • Breach of Estate Rules by contractor (cl 4) • Contractor’s gate and road access (cl 5) • Site rules and regulations, management and handback provisions • Environmental conservations, security, control of vehicles and heavy machinery
4. Schedule of Fines • Updating of certain fines • Specification of additional fines • Consolidation of existing penalties and fines
Questions? Now is your time to ask
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