This guide is to help laypersons - purchasers and owners - in understanding the key provisions on strata living such as living in condominiums and apartments. These provisions are in the Building Maintenance and Strata Management Act (BMSMA), which comes into force on 1 April 05.
The guide sets out the key provisions in the Act in simple layperson's terms e.g. the different types of resolutions and the situations when they are required are clearly explained and tabulated. Other key provisons covered in the guide include the significance of share value, maintenance contributions, duties and responsibilities of the developer, management corporation, managing agent and council members. The compulsory by-laws that all management corporations have to adopt are also explained. New provisions such as the 2-tier MC scheme and staged development are also briefly described.
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