Section 110 (formerly Section 43(1)(c) of the STA 1985) is about Information Certificates.
This is what was previously referred to as a ‘Section 43 Certificate’ before the Amended Act. It is now referred to as Information Certificate and is usually requested by a settlement agent. These are considered ‘conclusive evidence’ as to the state of a Strata Company and Lot at a specific time.
Section 110 relates to the supply of information from the Vendor to the Purchaser, with the aim of providing clear disclosure. However, it is always ‘buyer beware’ and purchasers should ensure they fully understand their obligations to the Strata Company prior to purchase.
Purchasers will receive information about the lot they are buying, including:
- If Strata Management contract is in effect (to include start and end date)
- Details for contracts of insurance
- Estimated contributions a buyer will have to pay in the 12 months after settlement
- The minutes from the most recent AGM
- A statement of accounts of the strata company
- Any debts owing against the lot to the strata company
- Whether the lot has the benefit of exclusive use by-laws transfer, lease or other disposition
- Information about any termination proposal received by the strata company
This link will take you to our form that needs to be filled in to request this Information Certificate.
The applicant needs to specify whether their application is for Section 110(1) or Section 110(2) – or both.
Section 110 states the following;
A strata company commits an offence if it does not, within 14 days after being given an application for a certificate under section 107, provide the applicant with a certificate certifying, as at the date of the certificate, the following matters as stated in the application —
- whether or not a strata management contract is in effect and, if so, when the contract starts and ends;
- details of any contracts of insurance maintained by the strata company, including the name of the insurer, the contract number, the type and amount of cover, and the expiry day;
- whether any transfer, lease or other disposition has been entered into or exclusive use by-laws have been made in favour of a person over the common property but not registered by the Registrar of Titles, and, if so, the name of the person and the nature and effect of the transaction or by-laws.
Penalty for this subsection: a fine of $3,000.
2. A strata company commits an offence if it does not, within 14 days after being given an application for a certificate under section 107, provide the applicant with a certificate certifying, as at the date of the certificate, the following matters as they relate to a lot specified in the application —
the amount and due date of contributions determined for the lot —
- at the most recent annual general meeting of the strata company; and
- at any time subsequent to that meeting; and
- in the previous 12 months;
- any amount owed to the strata company by the owner or occupier of the lot that is outstanding, the date on which it became outstanding, and the nature of the payment;
Note for this paragraph:
For example, the amount may be an amount of —
- contributions; or
- an amount payable under exclusive use by-laws; or
- an amount payable for work undertaken on the part of the owner of the lot; or
- any penalty or other amount ordered to be paid by the Tribunal; or
any amount payable for utility services or other services or amenities.
- the rate of interest payable in respect of the outstanding amount.
Penalty for this subsection: a fine of $3 000.
3. A certificate under this section is conclusive evidence of the matters stated in the certificate, as at the date of the certificate, in favour of a person taking an estate or interest in a lot for valuable consideration.