We were privileged to have been invited to attend the Public Participation Session initiated by the Department of Human Settlements and CSOS (Community Schemes Ombud Services) – Monday, 26 October 2015 Gauteng Region.
The main purpose was to allow discussion on the new legislation pertaining to Sectional Title Scheme Management:
• Regulations on Community Schemes Ombud Services.
• Regulations for Fees and Levies on Community Schemes Ombud Scheme.
• Sectional Title Schemes Management regulations.
Published Government Gazette No. 10505, 2 October 2015
Many concerns were raised and we hereby focus on just a few:
• Body Corporate to have a reserve fund of at least 25% of their annual budget. We recommend that all Sectional Title Schemes commence working towards this aim, although these regulations not proclaimed yet, it could come into effect within the next 6 to 12 months.
• Proxies to attend Owners Meetings limited to 2 (two) per attendee.
• Annual General Meeting is to be held within 2 (two) months after financial year end. CSOS agreed that this could be impractical and must be revised.
• Individual members will be obliged to contribute a monthly levy (payable annually) to CSOS:
Proposed regulations do make provision for waiver of charges.
As your Managing Agent, Fitzanne Estates will keep you posted on any new developments pertaining to the changes in regulations.
P.D. SCHELTEMA C. MOORCROFT
CEO HEAD: SECTIONAL/FULL TITLE