New Strata Laws on the way. What to expect and how will it impact you?

Topic

Current

Proposed

Strata Committee

1.     Members can be removed from the committee by special resolution at a general meeting.

2.     An election for a committee takes place at an AGM only.

3.     No requirement to call for nominations in AGM papers.

4.     The committee can determine that a member with a conflict of interest may still be present for voting and discussions on said topic.

1.     Removal of a committee member requires an ordinary resolution only. Once removed that person is not eligible for election for 12 months.

2.     An election for a committee may take place at any general meeting where it is called for.

3.     Call for nominations to the committee to be included in AGM notice.

4.     A member with a conflict of interest must be excused from voting and discussion on that matter.

General Meeting notice

7 clear days

14 clear days

Delivery of development documents

48 hours before First AGM

14 days before first AGM

Strata Managers

Must provide notice to the OC 3 months prior to expiration of agency agreement.

Must provide notice to the OC 6 months prior to expiration of agency agreement.

Transferring funds

Money transferred from one fund to the other to be ‘paid back’ within 3 months.

Within 3 months of the transfer, the OC must decide whether some or all of the funds are to reimbursed and raise a levy.

Levies

All levies require 30 days’ notice before becoming due and payable.

Levies raised for urgent repairs can be due and payable with 14 days’ notice.

Quotations for works exceeding $30,000

Only required by large schemes

Will be required for all schemes

Pets

1.     An OC can charge a pet bond or fee.

2.     No current legislation on assistance animals

1.     The OC cannot charge a pet bond or fee.

2.     Makes it clear a by-law cannot impose unreasonable burdens on people with assistance animals and specifies the evidence the OC may require to support an animal being classified as assistance pet.

Books and records

May be kept in paper or electronic form

Must be kept electronically

Compulsory Appointment of a Strata Managing Agent

Compulsory agent can be appointed by NCAT on application from an owner or creditor

Fair Trading can be a recommendation to NCAT that a compulsory agent be appointed.

Company Nominee

No restrictions on the number of company nominee or power of attorney votes one person holds

Number of votes to be limited in a similar way proxy votes are limited.

Tenants

Notice of a tenancy can only come from an agent or owner

A tenant may provide notice of their own tenancy.