There is a standard clause in the Act that requires the owners corporation to incorporate responsibility for on going maintenance into by-laws allowing changes to bemade to common property.
Most if not all OCs will pass responsibility to the renovating owner. This clause is only there to make sure some party has legally binding responsibility in the future, regardless of who owns the property.
I can’t see any reason why they would allow that to expire at a future time when the warranty has run out and any sub-standard work is more likely to become evident.