New regulations for managing body corporates have been introduced as law opening the doors to electronic communication, voting and video conferencing.
Attorney-General and Minister for Justice, Shannon Fentiman said the modernised set of regulations provided important outcomes for unit owners around the State.
“Transparency will be strengthened with body corporate managers now required to disclose any commissions received before a body corporate enters any contracts, including for insurance,” Ms Fentiman said.
“Work is also under way to establish a Community Titles Legislation Working Group which will provide advice to the Government on a range of issues impacting the community titles sector so we can continue to improve regulations.”
She said the current changes were guided by a comprehensive review of Queensland property law undertaken by the Queensland University of Technology (QUT).
“There was extensive engagement with stakeholders within the body corporate and community management sector on the regulations and many of them had input into the amendments through this consultation process,” the Minister said.
She said the new regulations also clarified and improved the list of documents that original owners (developers) must provide to the body corporate to facilitate effective governance of the scheme.
“They encourage early identification and remedy of building defects by requiring a body corporate to consider a motion to prepare a defect assessment report at its second annual general meeting,” Ms Fentiman said.
Commissioner for Body Corporate and Community Management, Michelle Scott said in the lead up to the new regulations staff from her office had been developing training and delivering webinars to help educate those within the sector about the changes.
A summary of all the body corporate changes can be accessed at this PS News link.
