Can amending your FYE assist in having your AGM held earlier?

Taken from Trafalgar Newsletter | Issue 02 - August 2023

If a body corporate was established prior to 7 October 2016, its financial year would automatically run from the first of March to the end of February annually. All bodies corporate established after the Sectional Titles Schemes Management Act 8 of 2011 ("the STSMA") came into force, have a financial year that runs from 1 October to the end of September. Any body corporate (pre- or post the STSMA) can change this period, by an ordinary resolution of the members of the body corporate at an annual or special general meeting. However, this is not something we see often in practice, not that it is not motivated as a potential solution, fully or in part, to holding an annual general meeting within time…

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