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In the ACT, an amendment to the Owners Corporation ‘rules’ banning all animals would generally have no effect due to being inconsistent with the Unit Titles (Management) Act 2011*. However, transitionary provisions allowed inconsistent Owners Corporation rules to continue to have effect if they had been adopted before the Unit Titles Act 2001 came into effect.
In other states I think it is similar. So, an older Owners Corporation might have a valid by-law banning animals if 1) it was valid under older legislation and 2) the transitionary provisions of newer legislation allowed old by-laws to continue to have effect even if they would be inconsistent with the new legislation if they had been consistent with the old legislation.
*Unless, improbably, it could be successfully argued that the particular circumstances of the OC made it ‘reasonable’ to refuse permission for even the smallest and most innocuous of animals.