(1) For the purposes
of section 145(1)(k), a strata management contract must provide for the
following —
(a) the
strata manager warrants that each person who is a principal of the business of
the strata manager, or a designated person in relation to the strata manager
who has a key role in performing scheme functions, holds the prescribed
educational qualifications;
(b) the
strata manager must, for the duration of the strata management contract,
ensure that each person who is a principal of the business of the strata
manager, or a designated person in relation to the strata manager who has a
key role in performing scheme functions, holds the prescribed educational
qualifications;
(c) the
strata manager must, on the written request of the strata company, provide
evidence to the strata company that each person who is a principal of the
business of the strata manager, or a designated person in relation to the
strata manager who has a key role in performing scheme functions, holds the
prescribed educational qualifications.
(2) This regulation
does not apply to a strata management contract that is a volunteer agreement
with a volunteer strata manager.
Note for this regulation:
The requirement to
hold the prescribed educational qualifications does not apply until the end of
a 5‑year and 6‑month transitional period set out in Part 18.
Part 18 provides for an alternative wording for strata management
contracts that are entered into before the end of the 5‑year and
6‑month transitional period, if the strata manager does not wish to
warrant that the prescribed educational qualifications are held by the
principal or a designated person.
[Regulation 97 amended: SL 2024/50
r. 7; SL 2024/209 r. 7.]