STAA2018

Termination of Strata Schemes

By February 18, 2020 February 25th, 2020 No Comments

New fairer process to terminate schemes

When the amendment act is proclaimed, they will introduce new options for terminating schemes. It now requires either Unanimous Resolution or, in the absence of a unanimous resolution, a simple majority vote coupled with a full procedural and fairness review by the State Administrative Tribunal (SAT).

It is our recommendation that legal advice is obtained for any scheme terminations, to ensure that the process is correctly followed and that the proper authorities are contacted to enable termination.

For more information please visit the Landgate website here.