What is a key requirement for holding an effective and legally binding AGM?

For an Annual General Meeting (AGM) of a condominium corporation to be effective and legally binding, a key requirement is the representation of 25% of the units, which enables a quorum to be achieved. This quorum is important because it ensures that a sufficient number of owners are present to represent the interests of the unit owners collectively.

When at least 25% of the units are represented, decisions made during the meeting can be enacted as they reflect the approval of a significant portion of the ownership. Having a lower threshold, like 20% or even 30%, would not comply with the regulations set forth in the Ontario Condominium Act, which aims to protect the rights of the owners and ensure fair voting practices during meetings. Therefore, 25% representation is the correct threshold that supports the effective functioning of an AGM and upholds the integrity of the decision-making process in the condominium governance framework.