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ARTICLE · 09 NOVEMBER 2015

NSW strata reform: A different kind of deposition

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The Development Bill aims to allow for the termination of a strata scheme where 75% of the owners consent to the sale.

AustraliaReal Estate and Construction
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IN BRIEF

'Strata housing' is a term that originated from the field of geology, where different 'strata' were the layers of sedimentary rock or soil that had been deposed over thousands of years. A more important type of deposition, however, may be the one you face if you infringe upon the 'Strata Schemes Development Bill 2015' and 'Strata Schemes Management Bill 2015' ('Management Bill'). Recently introduced by the Minister for Fair Trading, these bills represent another step towards the reform of a government legislation that is complex, voluminous and over 40 years old. In this article, Swaab solicitor Liam Mulligan discusses these reforms, and their potential impacts on your firm.

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