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The “Savings” provision seems to be in conflict with section 35 which clearly says that if someone ceases to be eligible, then they cease to be a member of the committee. (See below)
The savings provisions seem to be there so that all the by-laws and special resolutions, the make-up of the owners corp and the committee – as a committee – continues regardless of the new legislation.
35 Vacation of office of elected member of strata committee
(1) An elected member of a strata committee vacates office as a member … if the person was eligible to be a member at the time of election and the person ceases to be so eligible.
I’m tending to agree with Whale that it’s no change, but I’m not 100 percent sure and either way I can foresee a procession of disgruntled owners and recalcitrant rental agents heading for NCAT.