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The Strata Schemes Management Act 1996 (the Act) provides:

  • a system of financial management and decision-making by defining the rights and responsibilities of the owners corporation and each owner and occupier in a strata scheme.

This includes:

  • the management of funds and books of accounts
  • the holding of meetings of the owners corporation and executive committee
  • the responsibilities of the owners corporation to maintain common property and take out insurance
  • the responsibilities of owners and occupiers
  • a system for settling disputes in a strata scheme, including those in the day-to-day management.

Unless otherwise specified, all references to legislation in this document refer to the Strata Schemes Management Act 1996.

 

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« The Strata Schemes (Freehold Development) Act 1973