The Queensland government put in place a modernized set of corporate body regulations that would support unit owners in the state.
Attorney General and Minister of Justice Shannon Fentima said the new set of regulations will introduce key changes that will increase transparency, reduce costs for businesses and improve protection for unit owners.
"Transparency will be enhanced, with heads of legal entities now required to disclose all commissions received before a legal person enters into contracts, including for insurance," he said. she declared.
According to the government, the new set of regulations:
facilitate electronic voting and participation in meetings, including the use of 'live' electronic voting and remote personal participation by teleconference or videoconference
encourage the use of electronic mail and other forms of electronic communication for the exchange of information and documents within legal persons
clarify and improve the list of documents that original owners or developers must provide to the legal person to facilitate effective governance of the system
encourage the early identification and repair of construction defects by requiring a legal person to consider a motion to prepare a defect assessment report at its second annual general meeting
require the manager of the legal entity and the provider of custodial services for the plan to disclose any commission, payment or other benefit received, including the amount of the benefit if it is monetary, before it ; a legal person does not decide to enter into a contract, including for insurance
Fentima said the government was also working to create a community title law task force.
“This group of representatives of key stakeholders will provide advice to government on a range of issues impacting the community securities industry so that we can continue to improve regulation,” she said.
Top suburbs:
fern ravine
,
wiley park
,
Harris park
,
East Victoria Park
,
Narara
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