NSW government fast-track revised strata laws

NSW government fast-track revised strata laws
Zoe FieldingDecember 7, 2020

The NSW government has fast-tracked the release of revised strata laws after agreeing in February to delay the process to allow more time for the sweeping changes proposed to be considered.

NSW Fair Trading Minister Stuart Ayres said the government had managed to draft the bills more quickly than expected and would next week release them for limited consultation for a period of four weeks.

“The timelines are tight but we are aiming to be in a position to introduce these bills into Parliament this financial year,” Ayres said.

In February, stakeholders demanded a delay to the process of at least six months to give the state government more time to get new legislation right.

More than 70 reforms have been put forward as part of the proposed changes, which Owners Corporation Network chair Stephen Goddard previously described as “the most significant social reforms in strata since 1961”.

The proposed reforms aim to ensure defects in new strata buildings are quickly identified and fixed, and provide a way to terminate strata plans to make it easier to redevelop existing strata buildings.

They are also intended to improve decision making and dispute resolution in strata communities; protect individuals from unfair practices; and improve transparency and accountability in strata management, including the use of proxies and disclosing potential conflicts of interest.

Subject to the passage of the bills, regulations will now be drafted over the second half of 2014.

“It is important the legislation is presented to Parliament as soon as possible, to provide industry and community stakeholders with sufficient time to prepare for its commencement,” Ayres said.

“Although the date for introducing the bills to Parliament has been brought forward, the consultation period provided to stakeholders remains unchanged.”

Discussions with stakeholders have been under way for several months. NSW Fair Trading released a position paper on strata title law reform in November 2013.

There are more than 72,000 strata schemes in NSW and more than one quarter of the NSW population lives in a strata scheme. There are more than 1,500 licensed strata managing agents.

“Within 20 years, 50% of the State’s population will be living or working in strata.  It is therefore critical we modernise the legislation to make NSW number one again,” Ayres said.

Zoe Fielding

I am a freelance journalist and editor with more than 15 years experience specialising in personal finance, property, financial services and financial technology. A skilled writer and researcher, I have extensive experience producing high quality content for corporate and media clients. I am used to working to tight deadlines and tailoring the pieces I produce to suit a variety of audiences and formats.

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