Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Bill

Hon Judith Collins

Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Bill

Member’s Bill



Explanatory note
3Principal Act
4Section 5 amended (Interpretation)
5Section 39 amended (Utility interest (other than for future development units))
6Section 79 amended (Rights of owners of principal units)
7Section 80 amended (Responsibilities of owners of principal units)
8Section 95 amended (Quorum)
9Section 101 amended (How matters at general meeting of body corporate decided)
10Section 102 amended (Voting: proxies)
11New section 104A inserted (Attending meetings and voting by remote access)
104AAttending meetings and voting by remote access
12Section 112 amended (Establishment of body corporate committee)
13New section 112A inserted (Chairperson of body corporate committee)
112AChairperson of body corporate committee
14Section 113 replaced (Decision-making of body corporate committee)
113Decision-making of body corporate committee
15New sections 114A to 114I inserted
114ABody corporate committee to comply with code of conduct
114BConflicts of interest of members of body corporate committee
114CDuty to disclose conflicts of interest
114DConsequences of being interested in matter
114EConsequences of failure to disclose interest
114FInterests register
114GDefinition of body corporate manager
114HFunctions and duties of body corporate manager
114IBody corporate manager must act in interests of body corporate
16Section 116 amended (Long-term maintenance plan)
17Section 139 amended (Original owner’s obligation in relation to service contracts)
18Sections 146 to 149 replaced
146Pre-contract disclosure statement to buyer
147Additional disclosure statement to buyer
148Body corporate or original owner must endorse disclosure statements
149Buyer may delay settlement if disclosure late, incomplete, or not made at all
19Section 151 replaced (Cancellation by buyer)
151Buyer may cancel agreement for sale and purchase if disclosure late, incomplete, or not made at all
20New Part 2A inserted
157AApplication of Part
157BEmployment or engagement of body corporate manager or managers
157CAdditional reporting requirements regarding delegations
157DAdditional requirements regarding long-term maintenance plans
157EMandatory long-term maintenance funds
157FMandatory auditing of long-term maintenance funds
21Section 171 amended (Jurisdiction of Tenancy Tribunal)
22Section 217 amended (Regulations)
23Schedule 1AA amended
24Amendments to Unit Titles Act 2010
25Section 4 amended (Overview)
26Section 5 amended (Interpretation)
27Section 150 amended (Seller must rectify inaccuracies in disclosure statement)
28Section 152 replaced (Further requirements concerning disclosure statements)
152Further requirements concerning disclosure statements
29Amendments to Unit Titles Regulations 2011
30Regulation 10 amended (Election of chairperson)
31Regulation 24 amended (Election of body corporate committee)
32Regulation 26 amended (Body corporate committee chairperson)
33Regulation 27 amended (Body corporate committee business)
34Regulation 28 amended (Body corporate committee reports)
35New heading and regulations 28A to 28C inserted
28ABody corporate committee code of conduct
28BBody corporate manager must be member of industry organisation
28CTerms that must be included in agreement engaging body corporate manager
36Regulation 30 amended (Long-term maintenance plans)
37Regulations 33 to 35 replaced
33Disclosure statement
38New Schedule 1A inserted
39Amendments to Unit Titles (Unit Title Disputes–Fees) Regulations 2011
40Regulation 5 replaced

The Parliament of New Zealand enacts as follows: