Changes to the law relating to unit titles – why are they important for existing body corporates and bodycorporate managers?
A. The changes to the law are important because, as from 1 October 2009: • new rules apply to the operation of bodies corporate established under the Unit Titles Act; and • new requirements apply to the type of vote that may apply when a body corporate is making a decision (eg whether the vote needs to be a majority vote or a unanimous vote). On and from 1 October 2009, the rules that apply will depend on whether a body corporate is a “small plan” or a “standard plan”. See question 2 as to what is a “small plan” and what is a “standard plan”. If a body corporate is part of a “small plan” the rules that apply are contained in Part V of the Unit Titles Act and in schedule 2 to the Unit Titles (Management Modules) Regulations. If a body corporate is part of a “standard plan” the rules that apply are contained in Part V of the Unit Titles Act and in schedule 1 to the Unit Titles (Management Modules) Regulations.
