The Unit Titles Legislation Amendment Act 2023 delivered stage two of the Unit Titles Reform Project. It streamlined and improved legislative processed by amending several Acts that related to development and management of units plans. These reforms included:
- removing the requirement to lodge multiple copies of units plans, now plans are lodged online
- preventing the elimination of a unit in a two-unit Class A units plan if one unit is the subject of a building damage scheme
- allowing existing owners corporations to opt in to a Building Management Statement via a special resolution
- clarifying circumstances in which owners corporations may recover insurance excess payments
- removing the requirement for a unit owner to give the owners corporation notice if they enter into an agreement to sell the unit, with notification to be provided at settlement
- placing a four month time limit for an eligible person to request a unit title update certificate from an owners corporation, after they have obtained a unit title certificate
- clarifying that all units plans with more than $250,000 in the combined funds under management must participate in an annual audit of their financial records.
