This article discusses the best time to review strata by-laws, explaining that an AGM is often ideal and outlining how owners can access a current copy if needed.
Question: When is the best time to review our by-laws? Should we wait until our AGM? Do we have to pay a fee to access a copy of the current by-laws?
Answer: The AGM may be the best time to conduct a by-law review as this meeting usually draws the highest attendance rate.
With the introduction of the Strata Schemes Management Act 2015 (NSW), a review of your by-laws was required to be carried out within 12 months of its date of effect ie within 12 months of 30 November 2016. If this was not done, you can review your by-laws at any time.
The AGM may be the best time to conduct a by-law review as this meeting usually draws the highest attendance rate. Your appointed or delegated secretary must keep an up-to-date copy of your consolidated by-laws. If, for whatever reason, this copy is unavailable from the secretary, you can obtain a copy online for a fee.
This post appears in Strata News #648.
Leanne Habib Premium Strata E: info@premiumstrata.com.au P: 02 9281 6440