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ARTICLE · 29 FEBRUARY 2016

New strata laws in NSW - Developers beware!

ClarkeKann Lawyers
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Two new Acts affecting strata title development and management have been passed by the New South Wales parliament.

AustraliaReal Estate and Construction
Ian McKnight
Ian McKnight
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The two new Acts affecting strata title development and management have been passed by the New South Wales parliament. The operation of the new legislation is yet to be revealed, however, it is anticipated that it will be 1 July 2016.

The changes to termination of strata schemes have been heralded and it is now clear that a strata scheme will be able to be terminated by way of a special resolution (in effect, a 75% majority). As the regulations surrounding the changes are yet to be published, further details of the process involved will be set out in a subsequent issue of Momentum.

There are other significant changes with respect to which developers should be aware. These changes are highlighted below.

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