|Joanna Pidgeon chairs the Unit Title Working Group which has been working for 6 years for reform of the Unit Titles Act 2010. We are very happy that the Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Bill passed its third reading with support from across the whole house.
The Bill improves disclosure up front before people sign contracts and including access to any record of remediation projects in the three years prior to the sale and information about earthquake prone buildings. Purchasers will now also have the ability to delay the settlement process if disclosure is inadequate. Temporary remote online meetings implemented during covid times has now been made permanent improving the ability for owners to participate in their body corporate.
There are now further restrictions on arrangements which developers may enter into if they disadvantage the body corporate.
Conflicts of interest and code of conduct for committees will improve governance as will requirements around body corporate managers which are now referred to in the legislation with their own code of conduct.
We look forward to working with bodies corporate, developers, committees, managers and owners to implement the new legislative requirements.
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