New body corporate regulations to benefit Queensland unit owners commence today.
Attorney-General and Minister for Justice Shannon Fentiman said the modernised set of regulations provided important outcomes for unit owners.
"The new regulations will make it easier for Queensland unit owners with the introduction of electronic communication, voting and video conferencing which will be a benefit for all members," Ms Fentiman said.
"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.
"Work is also underway to establish a Community Titles Legislation Working Group.
"This group of key stakeholder representatives will provide advice to the government on a range of issues impacting the community titles sector so we can continue to improve regulations."
The 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.
From today, the new regulations:
- facilitate electronic voting and attendance at meetings, including the use of 'live' electronic voting and remote personal attendance by teleconference or videoconference;
- facilitate use of email and other forms of electronic communication for the exchange of information and documents within bodies corporate;
- clarify and improve the list of documents that original owners (developers) must provide to the body corporate to facilitate effective governance of the scheme;
- 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; and
- require the body corporate manager and the caretaking service contractor for the scheme to disclose any associated commission, payment or other benefit received, including the amount of the benefit if it's monetary, before a body corporate decides to enter into a contract (including insurance)
Commissioner for Body Corporate and Community Management Michelle Scott said in the lead up to today's commencement, staff from her office had been developing training and delivering webinars to help educate those within the sector about the changes.
For a summary of the changes, visit: https://www.qld.gov.au/law/housing-and-neighbours/body-corporate/legislation-and-bccm/regulation-changes/summary
