Apparently around 10 children each year are hospitalised because of falling from windows in NSW. The introduction of child safety window locks has significantly reduced the number of deaths and injuries. The continuing accident rate is why the law has been updated to require the Owners Corporation to check the locks are installed and working. Anecdotally, a lot of the window opening limiters have been removed or broken since they were installed when the law changed, and the change to the law establishes that the OC is responsible for ensuing the window opening limiters function properly, when previously, they could avoid responsibility because some window locks were installed by the lot owner (who was then responsible for their maintenance), but now (or soon), the OC will have that responsibility. Window locks are checked when a Unit is rented, already.
The regulations detailing how the inspection will occur have not been published, so we don’t know how often the inspections will need to occur. But at a guess, the window locks can be added to the annual inspection of smoke alarms inside Units, and can be done by the same people, once they are trained.