I notice the new ACT default Rules (aka By-laws, Articles etc) allow a little leeway on noise:
“Noise
(1) A unit owner must not make, or permit to be made, such a noise within the unit as might (in the circumstances) be reasonably likely to cause substantial annoyance to an owner, occupier or user of another unit.
(2) This rule does not apply to the making of a noise if the executive committee has given the person responsible for making the noise written permission to do so.
(3) Permission may be given subject to stated conditions.
(4) Permission may be withdrawn by special resolution of the owners corporation.”
I could imagine an executive committee might give permission for a unit to have an unusually large party that might well be noisy if it is a special occasion and the party holders are normally very quiet and reasonable. The party-holders could be protected by having obtained permission but the other residents could be protected by conditions such as a time limit. The new default Rule seems rather well designed to keep some control while allowing some fun on occasions.