The strata laws don’t define what a ‘review’ is. I guess the intention of this new provision is for all schemes to sit down and talk about their by-laws. Many schemes haven’t discussed/amended their model by-laws in decades. This gives them a chance to bring their by-laws up to date.
A resolution at a general meeting should suffice to confirm your scheme has ‘reviewed’ its by-laws. However if others have a different opinion, I would be happy to hear it.