› Flat Chat Strata Forum › Finance, budgeting and loans › Moving excess funds between strata scheme accounts › Current Page
28/10/2022 at 12:14 am
#66000
The legislation is a wish list and failure to comply means no consequence in too many cases.
Strata schemes are largely self-policing. If there’s a problem, you ask the other owners to tell the committee to fix it. If the problem is big enough, or the other owners aren’t interested, you ask NCAT to fix it. If the problem is intractable, NCAT can decide to put a statutory manager in, whether you want one or not.
But you have a point. Look at the number of rules in the Act that don’t have penalties attached and you can see how much wishful thinking it contains.
The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.
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