Observatory Tower
168 KENT STREET    SYDNEY    NSW    2000    AUSTRALIA

EXECUTIVE COMMITTEE

By law, an Owners' Corporation comes into existence upon registration of a Strata Plan. All owners of a lot in the Strata Plan make up an Owners' Corporation.

Each owner owns a share of the common property, such share being determined by the number of unit entitlements allocated to the owner's lot/s as a percentage of the total Strata Plan entitlements. Observatory Tower's Owners' Corporation, through the Executive Committee, is responsible for the running and maintenance of the building.

An Executive Committee is elected at each Annual General Meeting to supervise the affairs of the Strata Plan for the next 12 months. It meets on a regular or as required basis and works closely with the Building Manager and the Strata Manager. The Executive Committee makes decisions and gives direction to the Building Manager and the Strata Manager. Following each Annual General Meeting, the Executive Committee at its first meeting elects a Chairman, Secretary and Treasurer.

The Executive Committee is also responsible for appointing Strata Management, Building Management, and Concierge Services, and determining the duration of their contracts. The Executive Committee approves all contracts, controls expenditure and submits the financial results for the year ended and the administration and sinking fund budget for the following year to the Annual General Meeting.

For additional information about Executive Committee Meetings, Minutes, or Members, please visit the Owners Corporation section of the website.