14 / 42
We provide recommendations around the best ways to manage these issues prior to the expiry of the
developer control period. This allows the developer to make informed decisions about the draft house rules
in readiness for the first annual general meeting.
In the ACT, once a development is registered as a Units Plan, it is necessary to put in place certain things
for the establishment of the Owners Corporation and for the operation of the building in the following
categories:
Inaugural minutes and resolutions
Create UP file in Citadel Systems
Initial budget and corresponding levies
Initial financial statements
Owners Corporation Rules (previously Articles)
Bank accounts, ABN, TFN and other necessary accounts
Insurance
Section 119 settlement certificates
Service contracts and agreements
Obtain handover documents from developer – warranties, plans, user manuals
Other general administration.
Civium Strata People will prepare the necessary documents that relate specifically to the ongoing
management and operation of the Units Plan.