What a shower of useless paper shufflers! FYI: You should be able to raise this at the AGM under “correspondence” and, I would certainly be asking owners if they want to elect people who are not going to do anything to enforce by-laws if it doesn't suit them. Why elect people to do nothing?
Unfortunately OCs and ECs in NSW don't have any obligation to enforce by-laws. But the avenues still open to you are via council, a noise abatement order from the district court, as well as through Fair Trading.
If you go down the District Court route, at least you can demand costs and I think you might be able to use the fact that the Executive Committee has ducked this on as a good reason for not going through Fair Trading (which, to be honest, I would avoid if I could).
If you're not already talking to a lawyer, start now. And gather all that evidence. Best of luck with it.