Unit Titles Amendment Bill passes third reading
Published 05 May 22
The Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Bill (the Bill) is a member’s bill, which the Government is supporting.
The Bill has now passed its third reading at Parliament. Once the Bill receives Royal assent, it will become law. The changes in the Bill do not come into force immediately. They come into force by Order in Council, or at the latest, two years from the date of Royal assent.
The purpose of the Bill is to provide greater protections for people who buy or own unit title properties. As we know, New Zealanders are increasingly living in higher-density housing. Having a Unit Titles Act with clear rules and protections supports people to buy and live in these properties with confidence in the system.
As part of the Parliamentary process, the Bill went through the committee of the whole House stage where it had several changes during that process.