The Sectional Titles Schemes Management Act No. 8 of 2011 (the “Act”) and Regulations came into operation on 7 October 2016. Our previous article on this topic dealt with the additional requirement placed on Body Corporates to establish and maintain a reserve fund sufficient to cover the costs of future maintenance and repairs of common property. In addition to the reserve fund the Act has made some notable changes to sectional titles schemes. This article intends to briefly outline and deal with some of the other relevant changes applicable to sectional title schemes as imposed by the Act:
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