Proposed specified two-lots schemes regulation module |
The Office of Fair Trading has released a consultation draft of the proposed new regulation module for residential community titles schemes containing only two lots (more commonly known as duplexes).
The Body Corporate and Community Management Act 1997 (BCCM Act) currently has four regulation modules which provide detailed management processes designed to meet the needs of the different types of community titles schemes under the Act.
A comprehensive review of the existing regulation modules under the BCCM Act identified a need to simplify management arrangements for residential community titles schemes containing only two lots (residential two-lot schemes), which are commonly known as duplexes.
The Specified Two-Lot Schemes Module is proposed to provide more appropriate requirements for the management of bodies corporate for residential two-lot schemes. There are over 13 000 community titles schemes containing just two lots throughout Queensland and the new regulation module will make the day-to-day management less complex and onerous for lot owners in these schemes.
In April 2011, amendments to the BCCM Act were introduced in the Body Corporate and Community Management Act and Other Legislation Amendment Act 2011 to facilitate the new regulation module and enable the simplified management arrangements for residential two-lot schemes. These amendments to the Act will commence when the new regulation module commences.
Together, the amendments to the BCCM Act and the proposed new regulation module will simplify management arrangements for residential two-lot schemes in the areas of decision-making, financial management and by-law enforcement by:
- enabling a decision of the body corporate to be made by written agreement between the owners of the lots in the scheme. In addition, a body corporate committee, general meetings and voting will not be required under this regulation module
- providing a lot owner to authorise a person to act for the owner in body corporate matters
- allowing a body corporate to fund body corporate expenses in a way agreed between the owners and removing the requirement for the body corporate to have administrative and sinking funds
- enabling a lot owner, as opposed to the body corporate, to issue a notice for a breach of the scheme's by-laws.
Submissions closed on 14 October 2011.
Last reviewed 14/10/2011 |
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