White Collar Crime in Strata; how can it be stopped?

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  • 19/09/2016 at 5:27 pm #10644 Reply | Quote
    Merrick N Sniper

      This may be in the wrong topic but hopefully it can be transferred to a more appropriate place if required.

      In short, I read and hear in various places an Owners Corporation is similar to a company and the Executive Committee has to act like the company’s board.

      They supposedly have ‘fiduciary’ duties and need to act with ‘probity’ and not in their own interests, as individuals, but in the interests of the strata as a whole.

      What course of action can be taken when they don’t?

      I can’t see that anything can be done unless a part of the Strata Titles Act NSW, in our case, is breached. Even then, if the whole EC agrees to do something (hypothetical) like pave an area of Common Property for a barbecue area not everyone wants but they do, they just go and do it.

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    Reply To: Reply #25479 in White Collar Crime in Strata; how can it be stopped?
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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