New South Wales Consolidated Acts

STRATA SCHEMES MANAGEMENT ACT 2015 - SECT 71

71 Interests must be disclosed by potential strata managing agents or building managers

(1) A person appointed as the strata managing agent or building manager for a strata scheme who has an interest that must be disclosed under this section must disclose the interest to the owners corporation before the appointment of the person.

: Maximum penalty--

(a) for a corporation--500 penalty units, or

(b) otherwise--100 penalty units.

(2) The following are interests that must be disclosed to the owners corporation by a person--

(a) that the person is connected with the original owner,

(b) any direct or indirect pecuniary interest in the strata scheme (other than an interest arising only from the prospective appointment),

(c) that the person is connected with another person (the
"supplier" ) who routinely supplies goods or services for other strata schemes for which the person is the strata managing agent,

(d) that the person gave advice, whether under a formal contract or not, to the original owner during the previous 2 years about the strata plan or another strata plan or a community plan,

(e) another interest prescribed by the regulations.

(3) The disclosure must--

(a) be made in writing, and

(b) for subsection (2)(c), include--

(i) details about the nature of the relationship between the person and the supplier, and

(ii) details about the goods and services provided by the supplier.