25 March 2007

Impact versus Regulation

What is even more galling is that after passing this "innovative" piece of legislation in 1997, the Gahmen have conveniently left a huge void on everything else related to it.

1. To sell the entire estate - There is NO regulation or legislation to govern the Sales Committee who dictates the terms of such collective sale and the apportionment method of sales proceeds that are binding on ALL owners. SEE MY OTHER COMMENTS UNDER "SHARE VALUES; SALES COMMITTEE" IN THIS BLOG-SITE. In the event of a dispute or disagreement and even if the dissenting owner goes for review by the Strata Title Board (STB), so what? STB is bound by the existing guidelines (or lack thereof) and isn't it a case of fait accompli by then? In form, we have a recourse but in substance, it counts for little or almost nothing. As they say, "the devil is in the details".

2. To repair a broken lock in the estate – In stark contrast, there is an entire statute under the Building Maintenance and Strata Management Act to regulate the Management Corporation and the Management Council down to the last minute detail.

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