New South Wales Consolidated Acts

STRATA SCHEMES DEVELOPMENT ACT 2015 - SECT 165

165 Disclosures of conflicts of interest

(1) A person nominated for election as a member of the strata renewal committee must disclose the nature of a conflict of interest the person has--

(a) to the secretary of the owners corporation, and

(b) before the election is held.

(2) A member of the strata renewal committee must disclose the nature of a conflict of interest the member has--

(a) to the secretary of the owners corporation, and

(b) as soon as practicable after the member becomes aware of the conflict of interest.

(3) The person or member has a conflict of interest if--

(a) the person or member has a relevant interest, and

(b) the interest appears to raise a conflict with the proper performance of the strata renewal committee's function.

(4) At a general meeting at which the members of a strata renewal committee are elected, the owners corporation must consider--

(a) the nature of a conflict of interest disclosed under subsection (1), and

(b) whether the nominee who disclosed the conflict should be elected to the committee, and

(c) if the nominee is elected as a member--whether the member should be subject to a requirement that, for a matter relating to the member's interest, the member--

(i) not be present during a deliberation about the matter, or

(ii) take part in a decision of the committee about the matter.

(5) The secretary of the owners corporation must, as soon as practicable after receiving a disclosure under subsection (2), convene a general meeting of the owners corporation to decide whether to--

(a) remove the member from the strata renewal committee, or

(b) allow the member to remain on the committee subject to a requirement that, for a matter relating to the member's interest, the member--

(i) not be present during a deliberation about the matter, or

(ii) take part in a decision of the committee about the matter, or

(c) take no further action in relation to the matter and allow the member to remain on the committee with no restriction on participating in deliberations and decisions of the committee.

(6) A person who has made a disclosure under subsection (1) is not required to make a subsequent disclosure of the same conflict of interest if the person is elected as a member of the strata renewal committee.