YES – and if you’re in NSW then THIS section of the Strata Schemes Management Act applies, where you’ll note that any amount to be paid has to be approved in advance by those present at a General Meeting and it’s paid 12 months in arrears – so it’s for what the Executive Committee Chairman has done for the Owners Corporation, not what they may promise, propose, or offer to do.
Additionally, if the Chairman’s offering any ancillary services in addition to those directly applicable to their position on the E/C, such as any form of property maintenance, then they need to have an ABN, liability insurance, and to submit invoices for payment that detail those services in the terms approved at the General Meeting.