New South Wales Consolidated Acts

STRATA SCHEMES DEVELOPMENT ACT 2015 - SECT 165

165 Conflicts of interest

(1) If--

(a) a member of a strata renewal committee has a pecuniary or other interest in the proposed collective sale or redevelopment under a strata renewal proposal, and

(b) the interest may raise a conflict with the proper performance of the committee's function,

the member must, as soon as practicable after becoming aware of the potential conflict, disclose the nature of the interest to a meeting of the strata committee.

(2) On being informed of a matter under subsection (1), the strata committee must refer the matter to a meeting of the owners corporation for a decision by the owners corporation (having regard to the nature of the interest)--

(a) to remove the member from office, or

(b) to allow the member to remain in the office and to require the member to abstain from voting at, or participating in, a meeting of the strata renewal committee on a matter relating to the member's interest, or

(c) to take no further action in relation to the matter and to allow the member to remain in the office.

(3) A member of a strata renewal committee must comply with any requirement made under subsection (2) (b).