Strata Schemes Management Act 2015 (NSW)
Strata schemes must comply with budget, AGM, sinking fund + management requirements.
mediumcurrentannual
Who must comply
NSW owners corporations + strata managing agents.
What triggers it
Strata scheme registration.
When due
Continuous; annual AGM cycle; 10-year capital works plan.
Evidence required
AGM minutes + financials + sinking fund balances + records.
Max penalty
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Summary
SSM Act 2015 (NSW). Owners corporations must hold AGM, prepare budgets, maintain sinking fund + administrative fund, keep records 7 years, lodge initial period notice + many other ongoing obligations.
Enforced by
Topics
stratareal-estate
Source: https://www.fairtrading.nsw.gov.au/housing-and-property/strata-and-community-living. Rules Mate is not a law firm. Always verify against the live regulator source before acting.