News Release Archive
BUSINESS/CONSUMER SERVICES--CONDOMINIUM DISCUSSION PAPER RELEASED ----------------------------------------------------------------- A discussion paper proposing to improve and streamline rules affecting condominiums was released today by Business and Consumer Services Minister Sandy Jolly. "The existing legislation dealing with the registration of condominiums and their operation is over 20 years old," said Ms. Jolly. "Changes in condominium development and the benefit of the experience gained since this statute was passed have indicated a need to modernize this legislation." "Nova Scotia Condominium Act - Proposals for Change" is based on the recommendations from a committee representing private and public sectors, condominium owners, property managers, developers and government. The discussion paper reflects the committee's review of the legislation and issues relating to condominiums. Ms. Jolly noted the discussion paper addresses a number of important issues that are being discussed in condominium communities across the country. These issues include a more effective dispute resolution system, streamlined operational procedures and increased powers for condominium boards, reserve funds, financial reporting procedures and measures relating to tenants. The paper identifies the significant problems or issues associated with each of the topics and presents proposals for addressing these concerns. For example, in the case of financial reporting, the rationale for financial reports is outlined and several proposals are presented that are designed to balance the unit owners' need for information about the financial affairs of the corporation and the cost to the unit owners. The proposals for changing the current Condominium Act would result in increased efficiency and flexibility. "Condominium owners, the legal community, developers and property managers have expressed their concern with certain aspects of the current legislation," said Ms. Jolly. "Some of the recommendations would improve the framework under which condominium boards and unit owners operate, provide new options for developers, and reduce costs and paper burden for the participants in this process." The consultation started by the release of this discussion paper is an important part of the department's legislative reform process. Copies of the paper have been forwarded to stakeholders and are available on request from the Government Bookstore, 1700 Granville Street, Halifax, phone: 1-800-526-6775 or 424-7580. Interested parties are urged to provide written comments which will be taken into consideration during the next phase of this initiative. -30- Contact: Barb Jones Gordon 902-424-5079 trp Nov. 14, 1996 - 1:15 p.m.