Unit Titles Amendment Act: Key Changes

The Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Act 2022 has introduced significant changes to New Zealand's unit title laws. Key updates include:

• Enhanced Disclosure: New disclosures for off-the-plan units, including long-term maintenance plans and meeting minutes.
• Electronic Voting: Introduction of electronic voting for body corporate meetings.
• Proxy Voting: Clarification of proxy voting requirements and retention of voting records.
• Information Retention: Bodies corporate must now retain specific documents for at least three years.
• Long-Term Maintenance Planning: Larger bodies corporate must have a 30-year maintenance plan.

These changes aim to improve transparency, efficiency, and accountability in unit title governance. 

Read the full article here: Unit Titles Amendment Act 2024