Changes to The Unit Titles Act 2010
Building and Construction Minister Nick Smith announced upcoming amendments to the Unit Titles Act 2010 on 21 December 2016 with the launch of a discussion document: Click to view
Six significant changes to the Act are proposed:
- Better disclosure rules at the time of purchase
- Strengthening body corporate governance
- Increasing professionalism of body corporate managers
- Ensuring proper maintenance plans
- Variable compliance requirements relating complex size
- Improving the accessibility of dispute resolution
The discussion document is open for consultation until 3 March 2017.
We will be commenting on the discussion document and look forward to hearing your feedback. We propose to hold a lunchtime seminar in the New Year to discuss the proposed amendments.
Source: Body Corporate Business Update – Latest News December 2016