The final provisions in the Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Act 2022 will come into force on Thursday (9 May). The Regulations have been gazetted in the New Zealand Gazette.
The changes taking effect, relate to the long-term maintenance regime, the contract of service with a body corporate manager and the Regulator’s powers.
As part of the remaining changes, new regulations and amendments to existing ones have been developed. These prescribe:
- the types of information that have to be provided to the regulator on request;
- electronic voting rules and procedures; and
- other minor matters including – clarification around the process for proxy voting procedures, requirements in the pre-purchase disclosure statement for off-the-plan units, and minor corrections to some of the regulated forms.
Detailed information and guidance about these new changes will be uploaded on the Unit Titles website. The amendment regulations can be found on the Legislation website. We understand from Parliamentary Counsel Office that it may take a few days for the amendment regulations to be consolidated into the existing Unit Titles Regulations found here.
