According to a reader comment on today’s Sun-Herald:
One small example about buyers beware before they buy into a strata. There is new Regulation on the Strata Law that makes it compulsory to people in the Committee and the Strata Management to disclose all the problems in their building before they buy. I asked a strata lawyer who was informing us about the new regulation. Who would be fined if they did not disclose all the information to a future buyer if the people who are providing the information would be the ones fined? The Strata Lawyer responded that the Owners Corporation would be the one who will be fined.
Can anyone give chapter and verse for this if it exists?