Hi Urban & davidp,
I've never found the Office of Fair Trading to be particularly helpful, as the advice received too often depend upon who is giving it; precisely the same question can elicit different responses.
It's always best to abide by the Legislation, and in that way you're less likely to get into trouble; particularly if Resident/s object to compliance.
In that regard S48 of the NSW Strata Schemes Management Act (1996) states:
(1) An amendment or repeal of a by-law or, a new by-law, has no force or effect until:
(a) the owners corporation has lodged a notification, in the form approved under the Real Property Act 1900 , in the Registrar-General’s office, and
(b) the Registrar-General has made an appropriate recording of the notification in the folio of the Register comprising the common property.
(2) A notification cannot be lodged in the Registrar-General’s office more than 2 years after the passing of the resolution for the amendment, repeal or new by-law.
I hope this helps.