#24757
Jimmy-T
Keymaster

    @RL said:
    I would expect that since an owners corporation (O/C) is a separate entity to the owners that comprise it, a loss to the O/C is distinct from a loss to an individual owners – the fact that the O/C no longer has that money to spend on the owner’s building does not mean the individual owner incurred a loss.

    Sorry – I’m not sure what you mean by the above. I’m also not sure that the Owners Corp is entirely separate from the owners as ownership of a lot means you are part of the Owners Corp whether you want to be or not and you share its responsibilities and liabilities, whehter ot not you voted in favout of them.

    The committee is another matter entirely and its members are pretty well protected by “good faith” provisions.  However, if a committee was told that there was a problem and decided to do nothing (especially if they didn’t inform the other owners) then they should be made accountable.

    There are far too many strata committee members who refuse to learn the basics of their role, refuse to take tough decisions or uncomfortable advice and then don’t want to be held accountable when it all goes pear-shaped.

    But if committee members act responsibly and transparently, they have no need to fear they will be left carrying the can when things go wrong, even if they made the wrong decisions.

    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.