Owners Corporation Act changes – additional protections for lot owners
The Owners Corporations and Other Acts Amendment Act 2021 (the Act) was passed last month. The Act amends the Owners Corporations Act 2006, Retirement Villages Act 1987 and part 5 of the Subdivision Act 1998. The Act will come into operation by default on 1 December 2021, if not proclaimed earlier. In essence, the Act not only includes additional protections for lot owners but imposes more stringent obligations and restrictions on owners corporation managers and developers. Ultimately, the amendments seek to give additional protections to owners corporations and lot owners.