1 April 2021
Strata Managers as Fiduciaries
A paper by Gary Bugden OAM. April 2021. Preliminaries 1. Coverage In this paper I will consider: what we mean by a “fiduciary”; how to determine if a fiduciary relationship…
Pursuant to section 43A of the Strata Schemes Management Amendment (Information) Regulation 2021, the following information needs to be reported annually by the Secretary or strata manager of an Owners Corporation:
(a) the strata plan number of the strata scheme,
(b) the date of registration of the strata plan for the strata scheme,
(c) if the strata scheme is part of a community scheme—the date of registration and the number of the community plan, within the meaning of the Community Land Management Act 2021,
(d) if the strata scheme is part of a precinct scheme—the date of registration and the number of the precinct plan, within the meaning of the Community Land Management Act 2021,
(e) the address of the parcel of the strata scheme,
(f) the total number of lots in the strata scheme,
(g) the number of lots in the strata scheme used for the following purposes—
(h) if a building of the strata scheme has a NABERS rating—the rating,
(i) if an interim or final occupation certificate has been issued under the Environmental Planning and Assessment Act 1979 for a building of the strata scheme—the date the certificate was issued,
(j) if an annual fire safety statement has been issued under the Environmental Planning and Assessment Act 1979 for a building of the strata scheme—the date the most recent statement was issued,
(k) for a class 2 building, within the meaning of the Building Code of Australia, of the strata scheme—the number of storeys above ground level in the building,
(l) if the owners corporation is required to insure a building, or part of a building, of the strata scheme under the Act, section 160—the replacement value of the building, or the part of the building, as
(m) the following details of the secretary of the owners corporation—
(n) the following details of the chairperson of the owners corporation—
(o) if there is a strata managing agent appointed for the strata scheme—the following details of the agent—
(p) if there is a building manager appointed for the strata scheme—the following details of the manager—
(q) the following details of the emergency contact person for the strata scheme—
(r) the date of the most recent annual general meeting of the owners corporation
(s) if the owners corporation is required to establish a capital works fund under the Act, section 75—the balance of the fund, as specified in the most recent financial statements,
(t) whether a strata renewal committee is currently established under the Strata Schemes Development Act 2015 in relation to the strata scheme and, if so, the date the committee was established.