Mandatory requirements for sinking fund plans
Source: New South Wales. Minister for Fair Trading. Media Release.
"Owners of most strata schemes in New South Wales will have to prepare a 10-year sinking fund plan as part of changes to the Strata Schemes Management Act 1996. Fair Trading Minister Virginia Judge said the amendments, which came into place this week, would encourage owners’ corporations to be prudent in building up resources for long term maintenance."