New South Wales Consolidated Acts

STRATA SCHEMES DEVELOPMENT ACT 2015 - SECT 160

160 Establishment of committee

(1) If the owners corporation passes a motion that the strata renewal proposal warrants investigation by a strata renewal committee, the owners corporation must, by resolution at a meeting--

(a) establish a strata renewal committee to prepare a strata renewal plan for the strata scheme, and

(b) elect its members.

(2) A person who has a financial interest in more than 25% of the lots (other than utility lots) in the strata scheme must not vote in a resolution to establish a strata renewal committee or be elected as a member of the committee unless the person has disclosed that fact to the owners corporation.

(3) The strata renewal committee must consist of a chairperson and the number of other members, not more than 8, determined by the owners corporation.

(4) A strata renewal committee is taken to be established on the day its members are first elected under this Division.

(5) A motion for the resolution to establish a strata renewal committee may include forms of motion for the matters the owners corporation considers appropriate, including the matters referred to in clause 2 of Schedule 7.