Looking for more information I found the Position paper for what is now being referred to as the Community Schemes Law Reform. You can download it as a PDF. Section 1.32 addresses unauthorised parking.
Of more interest was section 1.14 Require committee members to disclose any conflicts of interest in a matter to be considered by the committee.
“Failure to disclose conflicts of interest will be an offence under the Act and may result in a penalty.” That should resolve executive committee members making decisions to their own advantage and not the owners corporation.