Consolidation of Bylaws
On 30 November 2016, the Strata Schemes Management Act 2015 and the Strata Schemes Management Regulation 2016 replaced the previous Act and Regulations.
A significant requirement of the new Act is for the consolidation of all strata schemes bylaws. This applies to all schemes notwithstanding their size; i.e. any strata scheme with two (2) or more lots is required to comply. The SSMA 2015 requires the consolidation of bylaws to be complete by 29 November 2017.
This process will require at least two (2) general meetings (EGM, AGM) to be conducted to complete the process. The purpose is to ensure that all of a single strata schemes bylaws are available from the Land and Property Information office as a single document. A strata scheme will not be able to register any new bylaws until such time as the consolidation has been completed.
This is the appropriate time for all strata schemes to review their bylaws by the repeal of old or out dated material; adopting new model bylaws or implementing newly drafted bylaws. Your plans review may end up adopting a mixture of all those options.
In many cases this may require extensive work by your strata committee or elected owners who are to conduct the review and make recommendation to the Owners Corporation. It is most likely that a strata solicitor will need to be engaged. There is little time before the review must be completed so for those schemes who have not commenced this matter needs to be addressed as a matter of urgency.