New regulations under the Strata Property Act that improve accountability in strata corporations have been introduced. The changes impact depreciation reports, contingency reserve funds and Form B.
The Information Bulletin contains an overview of the new regulations.
The new regulations were developed with the help of help of the strata community including: condominium owners’ associations, strata owners, strata councils members, legal experts, professionals and the public.
Consultations wrapped up with an online survey in March 2011. More than 1,800 people participated in the public survey, many of whom provided additional comments that helped refine the final regulations. More about the survey results and a profile of respondents.
