Agency Agreements Expiry Deadline - 29 May 2017

David Bannerman

Many agency agreements are due to expire on 29 May 2017 due to the operation of Section 50(1) and clause 14(1) of Schedule 3 of the Strata Schemes Management Act 2015.

For those schemes the managers were to notify the owners corporation on or before 28 February 2017 that their agreements were due to expire on 29 May 2017.

Those committees and managers who are eligible to extend appointments up to the next general meeting should carefully oversee decisions to ensure the agency agreement does not terminate.

For compliance pack members, please consider the materials and precedents at Part 1 of the Compliance Pack.

For further information please see our article Strata Law Reform: Impacts on Strata Manager Agreements.

 

***The information contained in this article is general information only and not legal advice. The currency, accuracy and completeness of this article (and its contents) should be checked by obtaining independent legal advice before you take any action or otherwise rely upon its contents in any way.

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