NSW strata legislation update
The need to professionalise the strata or building management through more flexibility, efficiencies, accountability and alignment with modern technology is finally being put into action with the recent announcement of a new Strata Schemes Management Act 2015 which came into effect from
30 November 2016.
What does the new legislation entail?
At a high level, most of the changes are around making Annual General Meetings and committee meetings more inclusive, providing role clarity, introducing a consistency of terminology, and ensuring improved owner protection.
In order to make it easier to digest some of the legal and more complex changes, we created a series of communications:
- NSW legislation update #1 Annual general meetings
- NSW legislation update #2 Committee meetings
- NSW legislation update #3 Finance, legal & insurance
- NSW legislation update #4 By-laws
- NSW legislation update #5 Repairs & maintenance
- NSW legislation update #6 Strata management agreements
For changes more specific to your scheme’s requirements, we would encourage your owners corporation to conduct a by-law review. If you have further questions or in need of advice, please email your strata manager with your property and contact details.
The PICA Group