Urbanization Annual AGM

 We are holding our Annual AGM at the end of March this year.We have 364 Owners on our Urbanization split in to Houses,Villas,Duplexes,Commercial Blocks and Apartments.

I am asking anyone  in the legal profession who can tell me whether its a requirement of the Horizontal Act in Spain to have a Particular Urbanization's  Books Audited by a qualified person or company before financial figures can be  submitted  to the Owners at this Meeting for approval.

Thank You

Unfortunately an independant professional audit is not required.

Hi Nigel,

Poppyseed is correct in her interpretation of HPL but that does not preclude the AGM adopting such a requirement of those entrusted with the finances all you need is to get the item onto the agneda and then obtain a simple majority of votes cast but including the co-efficient majority also.

Regards

Barry

it is helpful if the accounts are presented in a way that is easily understood. You should recieve these accounts along with the convocation for your AGM.

This gives owners time to study the accounts and decide their acceptance.

If you have questions about the accounts, contact the Administrator before the AGM if possible because once the accounts are passed by a majority at AGM, there can be no more discussion.