Source: Hong Kong Government special administrative region
LCQ14: Regulation of owners’ corporations The HAD will continue to assist OCs and owners in applying for and making use of the relevant services to obtain appropriate and effective support.
On the other hand, among the five major proposed amendment directions mentioned above, on large-scale maintenance works and high-value procurement, we recommend introducing a tiered system for quorum and voting-in-person thresholds. This aims to encourage more owners to personally participate in major decisions, reduce potential disputes and strength the protection of owners’ rights. We will further refine the declaration of interest mechanism by requiring the work consultants to declare any relationships with contractors, thereby enhancing the transparency in the procurement process. In addition, we also recommend imposing a ceiling on the number of proxy instruments an individual can hold, and displaying a list of units which have signed proxy instruments in buildings. This will enhance the transparency of proxy instrument system and prevent meeting outcomes from being manipulated by a minority. As for whether OCs should be required to engage independent professionals, we will consider the feasibility of this recommendation, including the financial implications on owners.Issued at HKT 15:00
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