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

Nicola Willis

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

Member’s Bill

306—2

Contents

Commentary
Key
1Title
2Commencement
3Principal Act
4Section 5 amended (Interpretation)
5Section 39 amended (Utility interest (other than for future development units))
5ASection 41 amended (Reassessment of ownership interest and utility interest)
6Section 79 amended (Rights of owners of principal units)
7Section 80 amended (Responsibilities of owners of principal units)
7ASection 84 amended (Powers and duties of bodies corporate)
7BNew section 84A inserted (Records to be kept)
84ARecords to be kept
7CSection 88 amended (Meetings)
8Section 95 amended (Quorum)
8ASection 99 amended (Request for poll)
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
10New section 103A inserted (Voting: electronic)
103AVoting: electronic
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 114IJ 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 corporateConflicts of interest of body corporate managers
114JBody corporate manager to comply with code of conduct
16Section 116 amended (Long-term maintenance plan)
16Section 117 amended (Long-term maintenance fund)
16ASection 133 repealed (Special powers of chief executive for monitoring and reporting on long-term financial and maintenance planning regime)
17Section 139 amended (Original owner’s obligation in relation to service contracts)
17ASection 141 amended (Appointment of administrator)
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
18Section 146 amended (Pre-contract disclosure to prospective buyer)
18ASection 148 repealed (Buyer may request additional disclosure)
18BSection 149 replaced (Buyer may delay settlement if disclosure late or not made)
149Buyer may delay settlement if disclosure late, incomplete, or not made at all
149ALimitation on buyer delaying settlement for incomplete or inaccurate pre-contract disclosure
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 Tribunals)
21ASection 172 amended (Jurisdiction of District Court)
21BNew sections 176A to 176D inserted
176ATribunal may make pecuniary penalty orders
176BMaximum amount of pecuniary penalty
176CConsiderations for Tribunal in determining pecuniary penalty
176DOnly 1 pecuniary penalty order may be made for same conduct
21CNew subpart 1A of Part 4 inserted
176EPower to issue improvement notices
176FContent of improvement notices
176GExtension of time for compliance with improvement notices
176HChief executive may withdraw improvement notice
176IObjection to improvement notice
21DSection 202 amended (General functions and powers of chief executive)
21ENew sections 202A to 202F inserted
202ADocuments to be retained by body corporate and body corporate manager and produced to chief executive if required
202BPower of entry to inspect unit title development
202CInspection by consent
202DTribunal may authorise inspection
202EChief executive may take proceedings in place of specified person
202FSupplementary provision to section 202E
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
28ASchedule 2 amended
29Amendments to Unit Titles Regulations 2011
29ARegulation 6 amended (Notice of annual general meeting)
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)
33ANew regulation 27A inserted (Body corporate committee minutes)
27ABody corporate committee minutes
34Regulation 28 amended (Body corporate committee reports)
35New heading and regulations 28A to 28C inserted
28ABody corporate committee code of conduct
28AABody corporate manager 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)
36ANew regulation 30A inserted (Long-term maintenance plans for large developments)
30ALong-term maintenance plans for large developments
37Regulations 33 to 35 replaced
33Disclosure statementPre-contract disclosure statement
37ARegulation 34 amended (Pre-settlement disclosure statement)
37BRegulation 35 revoked (Additional disclosure statement)
38New Schedule 1A inserted
38ANew Schedule 1B inserted
38BSchedule 2 amended
39Amendments to Unit Titles (Unit Title DisputesFees) Regulations 2011
39ARegulation 3 amended (Interpretation)
40Regulation 5 replaced
5Fees
41Regulation 6 revoked (Categorisation of proceedings)
42Regulation 7 revoked (Determining categorisation of proceedings)
Legislative history

The Parliament of New Zealand enacts as follows: