Strata Management Agency Agreement

Transcription

1 Strata Management Agency Agreement Date Owners Corporation Name The Owners - Strata Plan No. ABN Short form name owners corporation Notice details Address of strata scheme: Facsimile: Attention: E.mail: Agent Name Short form name Business name ISTM Membership No. Licence No. Notice details Particulars agent Address: Facsimile: Attention: E.mail: Item 1 term (insert number of years/ months or other description eg 'end of first AGM') Item 2 commencement date ABN Item 3 expiry date (insert date or description eg 'end of first AGM') Item 4 review date in relation to agreed services - in relation to additional services rates - in relation to charges - Item 5 percentage increase % (and if no figure provided, 5%) Item 6 agreed services fee $ per annum, inclusive of GST (for first year/stage)* $ per annum, inclusive of GST (for second year/stage)* $ per annum, inclusive of GST (for third year/stage)* $ per annum, inclusive of GST (for fourth year/stage)* Plus commissions in Schedule C1 YES no *These fees have been negotiated between the parties to the agreement Item 7 fee payment method monthly/quarterly (delete as applicable) Item 8 Item 9 representative substitute representative manner of accounting frequency of accounting in advance/arrears (delete as applicable) (insert name and contact details) (insert name and contact details) (insert manner eg by providing trust statement) (insert frequency eg monthly) 1 of 17 Copyright Institute of Strata Title Management Ltd 2008_03 Version

2 Important notes for the parties: The agent may not be entitled to any fee for services performed unless the agent serves a copy of the agreement signed by the agent on the owners corporation within 48 hours after the agreement is signed by or on behalf of the owners corporation. Once the terms of the agreement have been agreed, the agent should sign the agreement in triplicate and submit the agreement in triplicate to the owners corporation for signing. The owners corporation should sign, date and acknowledge receipt of the agreement in all three counterparts. The agent should retain two copies of the signed agreement for its personal file and its file for the strata scheme. The third copy should be given to the secretary of the owners corporation. The agent should provide a copy of the proposed agreement to all parties required to be given notice of the meeting at which the agreement is proposed to be approved. All fees payable under the agreement are INCLUSIVE of GST (clause 10). Signatures Owners Corporation The common seal of the owners corporation was affixed on (date) in the presence of Signature Signature Print Name Print Name Designation Designation being the person(s) authorised by section 238 of the Act to attest the affixing of the seal. Note: If the owners corporation does not nominate 2 persons to witness the affixing of the seal then the seal must be affixed in the presence of the secretary and any other member of the executive committee Agent Executed by [name of agent] in accordance with Section 127 of the Corporations Act 2001 in the presence of Signature of director Signature of director/company secretary (Delete as appropriate) Name of director (print name) Name of director/company secretary (print name) Service of a copy of the agreement The owners corporation acknowledges receipt of a copy of this agreement within 48 hours of execution by the owners corporation Name of signatory (print name) Signature 2 of 17 Copyright Institute of Strata Title Management Ltd 2008_03 Version

3 Agreement 1. Warranties and acknowledgment 1.1 The owners corporation warrants that it has resolved and has authority to enter into the agreement. 1.2 The agent warrants that the agent holds: a strata managing agent's licence under the Agents Act and that such licence will be maintained while the agreement is in force; and professional indemnity insurance, if required by the Agents Act. 1.3 At the end of the term the agreement will automatically continue for successive terms unless and until terminated in accordance with clause Appointment of and delegation to agent 2.1 The owners corporation: appoints the agent as the strata managing agent for the strata scheme; and subject to clause 2.2 and 2.3, delegates the agreed services and additional services to the agent, for the term and any successive term for the agreed services fee and the additional services fee unless and until terminated in accordance with clause The extent of authority for agreed services and additional services in schedule A1 that have been delegated is stated in schedule A1, namely: (c) Full authority with no limitations; Full authority subject to limitations as disclosed in Schedule A2; or No authority. If no authority applies then no delegation of services has occurred. Where schedule A1 or Item 6 provides for choices, a choice in BLOCK CAPITALS applies unless a different choice is made by marking the box of the different choice. The agreed services and additional services (if any) in Schedule A2 that are delegated to the agent are subject to limitations stated in Schedule A The parties acknowledge that: the delegation to the agent in clause 2.1 does not: (i) constitute a delegation by the owners corporation of its power to make: (A) a delegation under section 28 of the Act; or (B) a decision on a matter required by the Act to be decided by the owners corporation; or (C) a determination relating to the levying or payment of contributions; or (ii) prevent the owners corporation or the executive committee from exercising all or any of the agreed services or additional services (if any); and the agent does not have and may not exercise any of the powers, authorities, duties or functions of the owners corporation that are conferred on another strata managing agent appointed for the owners corporation under section 162 of the Act. 3. Fees and charges 3.1 The owners corporation must pay to the agent in accordance with the fee payment method: (c) the agreed services fee; and the additional services fee for any additional services performed by the agent; and the charges associated with the performance of the agreed services and any additional services. 3 of 17 - Copyright Institute of Strata Title Management Ltd Version

4 3.2 The owners corporation authorises the agent to retain any fees paid to the agent for supplying to third parties information that the owners corporation must supply under the Act and retain any fees paid to the agent for supplying to third parties information that is not required under the Act, provided that such fees are charged in accordance with those set out in schedule B. 3.3 The agent must account to the owners corporation for money received by the agent on behalf of the owners corporation in the manner and with the frequency set out in item If item 6 is marked Yes, the agent may retain rebates, discounts and commissions paid to it by the providers of goods and services to the owners corporation described in the disclosure schedule C1 or as otherwise notified in writing to the owners corporation from time to time. 3.5 If item 6 is marked No, the agent must pay to the owners corporation any rebates, discounts and commissions paid to it by providers of goods and services to the owners corporation within 30 days of the receipt, however any rebates, discounts and commissions described in the disclosure schedule C2 may be retained by the agent. 3.6 At any time, by written agreement between the parties, items may be added to or deleted from the additional services rates and/or charges. 4. Review of fees and charges 4.1 The agreed services fee, the additional services rates and the charges will be reviewed on the relevant review date to an amount agreed between the parties (not being less than the amount payable at the review date). 4.2 If the parties cannot agree before the review date, the agreed services fee, the additional services rates and the charges payable on and from the relevant review date will be increased to the greater of: where A + (A multiplied by the percentage increase); or A x B N A = the amount payable at the relevant review date for the agreed services fee, the additional services rates or the charges; B = the CPI for the quarter ending immediately before the relevant review date; and N = the CPI for the quarter immediately before the date of the agreement in the case of the first review and the date of the last review in the case of subsequent reviews. 5. Terminating the agreement 5.1 The agreement may be terminated (without penalty) at any time with the mutual consent of the parties. 5.2 The agreement will terminate on the expiry date if a party gives to the other party no less than 3 months' written notice before the expiry date (time being an essential term). 5.3 Where the agreement does not terminate on the expiry date or is not otherwise terminated during the term in accordance with this clause 5, the agreement will automatically continue for successive terms unless and until terminated: without penalty, by the owners corporation giving to the agent or the agent giving to the owners corporation at least 3 months' written notice at any time during the successive term; or without penalty, under clause 5.1; or (c) under clause of 17 - Copyright Institute of Strata Title Management Ltd Version

5 5.4 A notice under clause 5.2 or clause 5.3 can only be given by the owners corporation if authorised by an appropriate resolution of the owners corporation. 5.5 Despite clause 5.2 and clause 5.3 and without affecting any of its other rights, the agreement may be terminated without notice by: the owners corporation: (i) if the agent is in breach of the agreement and fails to remedy that breach within 28 days after the owners corporation serves a written notice on the agent providing particulars of the breach; or (ii) where the agent is an individual, the agent is declared bankrupt; or (iii) where the agent is a corporation, the agent is wound up or placed in liquidation; or (iv) if the agent's strata managing agent's licence is cancelled; or the agent if: (i) the owners corporation fails to pay any amount owing to the agent under the agreement within 28 days after the agent serves a written notice on the owners corporation providing details of the unpaid amount; or (ii) the owners corporation Acts or fails to Act so as to prevent the agent from properly carrying out its obligations under the agreement; or (iii) an order is made for the variation or termination of the strata scheme under Part 3 of the Development Act. 5.6 The agreement is terminated on the appointment of a strata managing agent under section 162 of the Act to exercise or perform all the functions of the owners corporation and, if so terminated, the agent will not be entitled to: any remuneration by way of commission, agreed services fee, additional services fee, charges or otherwise in respect of any period after the termination; or any payment (in the nature of a penalty or otherwise) by reason of the early termination. 5.7 If the agreement is terminated the agent must, within 7 days after payment by the owners corporation to the agent of all outstanding amounts, make available at the agent's office for collection by the owners corporation records, keys and other property of the owners corporation in the possession of the agent. 6. Indemnity by owners corporation and liability of the agent 6.1 The agent is liable to the owners corporation: only for services actually supplied under this agreement; and on the terms of this clause The agent is excluded from all liability for any claim, liability or Loss in any case in relation to or arising directly or indirectly out of the services or additional services or arising from any cause of action including negligence and including, without limitation: (c) (d) inherent defect or danger in the owners corporation s property whether as designed or constructed; loss arising from the owners corporation s failure to supply adequate information, advice or direction when requesting work to be performed by the agent; loss arising from the services provided by 3rd parties including those instructed by the owners corporation or the agent; and loss arising from the handling of goods, products or chemicals, but except to the extent that the liability is caused or contributed to by the agent s negligence, dishonesty or fraud. 6.3 Clauses 6.1 and 6.2 apply to the extent permitted by law. 6.4 The owners corporation must indemnify the agent immediately on demand against any matter, in paragraph 6.1 to 6.3 (inclusive) for which the agent has no liability to the owners corporation. 5 of 17 - Copyright Institute of Strata Title Management Ltd Version

6 6.5 If the agent breaches its statutory obligations in relation to the services or additional services and the owners corporation has contributed to the agent s breach, the owners corporation agrees to indemnify the agent immediately on demand against any claim, liability or Loss to the extent that the owners corporation has contributed to the breach. 6.6 If the owners corporation breaches its statutory obligations in relation to the services or additional services and the agent has contributed to the owners corporation breach, the agent agrees to indemnify the owners corporation against any claim, liability or Loss to the extent that the agent has contributed to the breach. 6.7 The agent must take out and maintain the insurance specified at clause Point of contact 7.1 The owners corporation warrants and acknowledges that: (c) the representative and the substitute representative are nominated by the owners corporation to communicate with the agent on behalf of the owners corporation; and the agent may accept, but is not obliged to act on instructions communicated to the agent by the representative and substitute representative; and any communication by the agent to the representative or substitute representative is deemed to be a communication to the owners corporation. 7.2 The representative and the substitute representative must be members of the executive committee. 7.3 The owners corporation may nominate a new representative and/or substitute representative at any time by written notice to the agent. The agent may continue to accept and act on instructions communicated by an existing representative and/or substitute representative until such time as the agent receives notification of the new nomination. 7.4 The appointment of the representative and the substitute representative does not preclude the owners corporation from otherwise providing instructions to and communicating with the agent. If there is any discrepancy between instructions provided to the agent by the owners corporation and those provided by the representative or the substitute representative, the instructions provided by the owners corporation shall prevail over those provided by the representative or substitute representative. 7.5 This clause 7 is for convenience only and does not place any obligation on the agent to accept the instructions of the representative and substitute representative. 7.6 The owners corporation acknowledges that all agreed services subject to any limitation, have been delegated to the agent under section 28 of the Act, and the agent has authority to carry out the agreed services regardless of the instructions of the representative and substitute representative. 8. Transfer of the agreement 8.1 The agent may transfer the agreement with the consent of the owners corporation, which consent shall not be unreasonably withheld if the agent satisfies the owners corporation that: the proposed transferee and related persons are respectable and have the qualifications, competence and experience to perform the agreed services and additional services; and the proposed transferee is financially sound. 8.2 The owners corporation must advise the agent of its decision whether to approve a proposed transfer within 28 days of receiving from the agent the information reasonably necessary to make the decision. 8.3 If the owners corporation approves the transfer, the owners corporation, the agent and the transferee must enter into a transfer agreement, or alternatively if the agent s elects to enter into a new agency agreement then clause 8.6 will apply. 6 of 17 - Copyright Institute of Strata Title Management Ltd Version

7 8.4 The owners corporation must not require, or receive, a fee or other consideration for approving the transfer (other than reimbursement for legal or accounting expenses reasonably incurred by the owners corporation in considering the transfer application). 8.5 For the purposes of clause 8.1 to 8.4 (inclusive) the parties agree that consent of the owners corporation can be provided by the Executive Committee, unless the Act is amended to expressly provide that approval of the owners corporation for transferring the functions of a strata managing agent requires a resolution at a general meeting of the owners corporation. 8.6 After the transfer agreement has been entered, or if an election has been made by the agent under clause 8.3 the new agent may request that the owners corporation enter into a new agency agreement, and the owners corporation must advise the new agent of its decision to enter into a new agency agreement within 28 days of such request, such approval not to be unreasonably withheld if the new agency agreement is on the same terms as this agreement, or on terms not denigrating from the owners corporation rights under this agreement. The new agent will pay the reasonable cost of preparing the new agency agreement, preparing and holding the meetings of the executive committee and the general meeting of the owners corporation, however if the meeting relates to more than approval of the minutes of the last meeting and the resolution relating to the new agency agreement, then the new agent will pay the proportionate cost relating to approval of the new agency agreement. 8.7 If the term has expired, the agent must not transfer the agreement by a transfer agreement, and may only request the owners corporation to enter into a new agency agreement and the provisions of clause 8.6 will apply for such request. 9. Service of notices 9.1 Any notice to be served under the agreement: 10. GST must be served either personally, by post, facsimile or using the details provided on the front page of this agreement, or other notice details subsequently notified from time to time by a party in writing to the other party; and is served the first time it is served if it is served more than once Words or expressions used in this clause 10 or elsewhere in the agreement that are defined in the GST Act have the same meaning in the agreement The parties acknowledge that: the agreed services fee, the additional services rates and the charges are inclusive of GST and are based on a GST rate of 10% and if the rate of GST increases or decreases, the agreed services fee, the additional services rates and the charges will simultaneously increase or decrease so that the agent receives the same GST exclusive payment as it received before the change in the rate of GST. 11. Occupational Health & Safety 11.1 (Defined Terms) In this clause (and this agreement if applicable) unless the contrary intention appears: The terms Employer, Occupier of Premises, Plant, Premises, Principal Contractor and Place of Work, Substance have the meanings given to them in the OHS Act. OHS Act means the Occupational Health & Safety Act 2000 (NSW) and includes all regulations and advisory standards made under it. (c) Work means any work in relation to the Premises or owners corporation s property carried out by or on behalf of the owners corporation which: (i) is carried out at or above a Place of Work; or (ii) which requires the appointment of a Principal Contractor, (iii) whether or not directed or approved by the owners corporation. (d) Third Party Work means the Work done by contractors or others in or at the Premises or owners corporation s property. 7 of 17 - Copyright Institute of Strata Title Management Ltd Version

8 11.2 The owners corporation acknowledges that: (c) (d) (e) the owners corporation is the entity in control of the Premises and owners corporation s property; the agent is not in control of any Plant or Substance and any such Plant or Substance at the Premises is under the control of the owners corporation unless such Plant or Substance is under the sole control of people other than the owners corporation; the owners corporation has an obligation to ensure the safety of any person(s) at the Premises and on or using the owners corporation s property; notwithstanding that the Premises and owners corporation property are wholly or partly residential or used for residential purposes, the Premises and owners corporation s property may be a Place of Work requiring an owners corporation to comply with the OHS Act, including when Third Party Work is carried out on the Premises or owners corporation s property; the owners corporation acknowledges that the agent does not retain any contractors to perform Work or Third Party Work at the Premises or owners corporation s property, and any contractors retained to perform Work or Third Party Work at the Premises or owners corporation s property (being the owners corporation s Place of Work) do so under the control of the owners corporation; 11.3 The owners corporation must ensure: compliance with the obligations under the OHS Act including but not limited to: (i) obligations as Employer for its Employees and others at its Place of Work; (ii) obligations as Occupier of Premises; and (iii) the obligations it has as controller of any Plant or Substance used by people at its Place of Work; that it and all persons employed or engaged by it or on its behalf comply at all times with the requirements of the OHS Act and any directions, manuals, polices or rules formulated from time to time by the owners corporation; (c) that it has systems in place to assess and eliminate risks and hazards at the owners corporation s property and Premises, which meet the standard required by the OHS Act;, (d) that where risks and hazards cannot be eliminated, the risks and hazards are adequately controlled in a way which meets the standard required by the OHS Act; (e) that all persons employed or engaged by it, at the owners corporation s property, are appropriately trained and supervised; (f) that only qualified persons are engaged to carry out any Third Party work; 11.4 (Appointment of Principal Contractor) Without limiting or in any way affecting the owners corporation's obligations under this agreement or any other document, where any Work or Third Party Work is to be undertaken at the owners corporations property or Premises, whether during the term or any subsequent period during the continuance of this agreement the agent is not appointed and has no liability as Principal Contractor, and the owners corporation acknowledges that the services being provided by the agent do not include Work requiring the agent to appoint or the agent to be appointed as a Principal Contractor The owners corporation will, to the extent permitted by law, indemnify the agent against all claims for any loss or damage which may arise as a result of any breach by the owners corporation of this clause or of the obligations applicable to the Principal Contractor under the OHS Act. 12. Off Set 12.1 If a party is in default of a payment required to the other party under this agreement then the party not in default may off set any amount that may become owing by the non defaulting party to the defaulting party This clause overrides any other document or agreement to the contrary. 8 of 17 - Copyright Institute of Strata Title Management Ltd Version

9 13. Governing law The agreement is governed by the law of New South Wales. 14. Definitions The following words have these meanings in the agreement unless the contrary intention appears: Act additional services additional services fee additional services rates agent Agents Act agreed services Strata Schemes Management Act 1996 (NSW). the functions and duties of the owners corporation set out in schedule A1 or A2 which disclose the additional Services rates as applying for fees the fee for the supply by the agent of the additional services calculated according to the additional services rates, as varied under the agreement. the rates for carrying out the additional services set out in schedule B, as varied under the agreement. the person described on the front page of the agreement and, where appropriate, includes the agent's employees and contractors or any transferee under clause 8.3. Property, Stock and Business Agents Act 2002 (NSW). the functions and duties of the owners corporation set out in schedule A1 that are not marked No authority, and which disclose the agreed services fee as applying for fees; and schedule A2 which disclose the agreed services fee as applying for fees agreed services fee agreement charges the fee in item 6 for the supply of the agreed services, as varied under the agreement. this agreement including the Particulars, schedules and attachments. the costs and associated fees set out in schedule B and/or D, as varied under the agreement. commencement date the date in item 2. construction work (c) CPI means any of the following: excavation, including but not limited to excavation or filling of trenches, ditches, shafts, wells, tunnels and pier holes, and the use of caissons and cofferdams, building, including but not limited to the construction, the manufacturing of prefabricated elements of a building at the place of work concerned, alteration, renovation, repair, maintenance or demolition, civil engineering, including but not limited to, the construction, structural alteration, repair, maintenance or demolition of, including but not limited to, airports, docks, harbours, inland waterways, dams, river and avalanche and sea defence works, roads and highways, railways, bridges and tunnels, viaducts, and works related to the provision of services such as communications, drainage, sewerage, water and energy supplies. Development the All Groups consumer price index published by the Australian Bureau of Statistics for Sydney, or if that bureau stops publishing the CPI, then the index recommended by the Property Council of Australia as the index that most appropriately replaces the CPI. in relation to a freehold strata scheme, the Strata Schemes (Freehold Development) Act 1973 (NSW) and in relation to a leasehold strata scheme, 9 of 17 - Copyright Institute of Strata Title Management Ltd Version

10 Act the Strata Schemes (Leasehold Development) Act 1986 (NSW). disclosure schedule schedules C1 and C2. emergency executive committee a burst water service, blocked or broken sewerage system, serious roof leak, gas leak, dangerous electrical fault, flooding, serious flood, storm or fire damage, failure or breakdown of the gas, electricity, water supply or any other essential service, any serious fault or damage to the common property or any personal property vested in the owners corporation or any other event of a similar nature. the executive committee of the strata scheme. expiry date the date or event in item 3. fee payment method GST Act high risk construction work (c) (d) (e) (f) (g) (h) (i) (j) ISTM item loss the method in item 7 for paying the agreed services fee, the additional services fee and the charges. A New Tax System (Goods and Services Tax) Act 1999 (Cth). means any of the following: construction work involving structural alterations that require temporary support; construction work at a height above 3 metres; construction work involving a depth greater than 1.5 metres; construction work involving demolition work for which a licence is not required under chapter 10 of the OH&S Act to carry on the business of that work; construction work in tunnels; construction work involving the use of explosives; construction work near traffic or mobile plant; construction work in or around gas or electrical installations; construction work over or adjacent to water where there is a risk of drowning, any work defined as High Risk, under the Occupational Health and Safety Regulation 2001 or OHS Act. Institute of Strata Title Management Limited. an item in the Particulars. any damage or damages, loss, costs (including, without limitation, the costs of complying with any verdict, award or settlement of any dispute and legal costs on a solicitor and own client costs basis), expense, charge, payment of liability, in any case, whether accrued or paid but not indirect, incidental or consequential loss or damages. Non-Standard Work means: Structural Demolition Work, as defined in the Occupational Health and Safety Regulation 2001; Removal of Asbestos, as defined in the Occupational Health and Safety Regulation 2001; (c) any high risk construction work; (d) work requiring the appointment of a Principal Contractor in accordance with the provisions of clause 210 of the Occupational Health and Safety Regulation 2001; (e) Abrasive Blasting Works, as defined in the Occupational Health and Safety Regulation 2001; (f) processes involving Lead Works, as defined in the Occupational Health and Safety Regulation 2001; (g) works involving the use of Hazardous Substances, as defined in the Occupational Health and Safety Regulation 2001; 10 of 17 - Copyright Institute of Strata Title Management Ltd Version

11 (h) Fumigation Works, as defined in the Occupational Health and Safety Regulation 2001; (i) generally any works involving the use of dogging, rigging, the use of cranes, draglines, excavators and explosive-powered tools, as referred in or defined in the Occupational Health and Safety Regulation 2001; (j) maintenance of Boilers, Pressure Vessels and Pressure Piping, as defined in the Occupational Health and Safety Regulation 2001; (k) any works involving the use of scaffolding, elevator platforms, or other support. requiring works above 3 metres in height; (l) window cleaning above 3 metres; (m) any works where the use of hoists, fall arrest device, harness, abseiling, safety line, etc. are required; (n) work on any roof with a brittle or fragile roof. (o) Confined Spaces work, as defined in the Occupational Health and Safety Regulation (p) Any works requiring the use of Dangerous Goods as defined in the Occupational Health and Safety Regulation owners corporation owners corporation s property the owners corporation described on the front page of the agreement and, where appropriate, includes the employees, agents (other than the agent), contractors and invitees of the owners corporation. the common property and any personal property vested in the owners corporation. percentage increase the percentage in item 5. Regulation Property, Stock and Business Agents Regulation related persons in relation to a proposed transferee which is a: corporation, the corporation's directors, substantial shareholders and principal staff; or partnership, the partners and principal staff of the partnership. representative the natural person described in item 8. review date the relevant date in item 4. services the agreed services and additional services. Standard Work means: construction work other then Non-Standard Work; construction work where there is no requirement to work above 3 metres, including but not limited to, replacement of roofing, guttering; (c) general maintenance works, including but not limited to, lawn mowing, gardening, window cleaning (below 3 metres), painting; (d) minor maintenance repairs, including but not limited to, repair / replacement of leaking pipes, replacing tiles / pavers, lock replacement / repairs; (e) maintenance of essential fire safety equipment; (f) annual inspection and notifications required for essential fire safety equipment, in accordance with the Environmental Planning and Assessment Regulation 2000 (NSW); (g) pest management treatments (excluding fumigation). (h) lift maintenance. (i) travelator or escalator maintenance. (j) renewal of plant registrations (typically lifts) in accordance with the requirements of the Occupational Health and Safety Regulation 2001, 11 of 17 - Copyright Institute of Strata Title Management Ltd Version

12 provided however: if any of these works require a Principal Contractor (as defined under the Occupational Health & Safety Act 2000 (NSW) or any regulations and advisory standards made under it) to be appointed then the works will be included under the definition of Non-Standard Work; or if there is any inconsistency between Standard Work and Non-Standard Work, the work will be interpreted as Non-Standard Work. strata scheme the scheme constituted on registration of a strata plan under the Development Act. substitute representative successive term the natural person described in item 8, who may exercise the functions of the representative if the representative is unavailable. a period of the same length as the term commencing on the day after the expiry of the term or a preceding successive term, as the case may be. term the period or event in item 1: commencing on the commencement date; and expiring on the expiry date. transfer agreement the ISTM standard form Transfer of Strata Management Agency Agreement 15. Interpretation In the agreement, unless the contrary intention appears: a reference to: (i) a thing includes the whole or each part of it; (ii) a document includes any variation or replacement of it; (iii) a statute, ordinance, code or other law includes regulations and other instruments under it and consolidations, amendments, re-enactments or replacements of any of them; and (iv) a person includes that person's executors, administrators, successors, substitutes (including but not limited to, person taking by novation) and assigns; the singular includes the plural and vice versa; (c) headings do not affect interpretation; and (d) despite clause 14, the words defined in clause 14 are defined words whether or not these words are in italics. 12 of 17 - Copyright Institute of Strata Title Management Ltd Version

13 Schedule A1 ISTM Combined Schedule NOTE: Where this Schedule A1 provides for choices, a choice in BLOCK CAPITALS applies unless a different choice is made by marking the box of the different choice. DO NOT delete any item in this Schedule, as it may render the agreement in breach of the Property Stock and Business Agents Act If a duty/function does not apply mark the box No authority Duties and Functions as described in the Property Stock & Business Agents Regulations (Schedule 6 Clause 6). FULL AUTHORITY WITH NO LIMITATIONS No Authority Full Authority Subject to Limitations as Disclosed in Schedule A2 Regulation Schedule 6 Clause 6 Ref Undertaking the financial management of funds and books of account Holding documents and maintaining records relating to the scheme (for example, the strata roll, notices, and minutes of meetings), Arranging building inspections and reports Effecting repairs to and maintaining common property or engaging appropriately qualified tradespersons to do Standard Work, with limitations on expenditure that may be incurred by the agent without obtaining the principal s approval Engaging appropriately qualified tradespersons to do Non-Standard Work, and the appointment on behalf of the owners corporation of a Principal Contractor for such Non-Standard Work, with limitations on expenditure that may be incurred by the agent without obtaining the principal s approval Paying disbursements and expenses incurred in connection with the agent s management of the scheme Arranging insurance cover for the scheme Issuing and serving notices to comply with a by-law Managing the sinking fund and the administrative fund Undertaking steps necessary to recover any money owing in relation to levies Representing the owners corporation or association in tribunal or court proceedings Paying accounts in relation to the scheme (for example, accounts for water charges, council rates and maintenance), Arranging and undertaking administrative duties in relation to annual general meetings and other general meetings 6 6 6(c) 6(d) 6(d) 6(e) 6(f) 6(g) 6(h) 6(i) 6(j) 6(k) 6(l) 13 of 17

14 Schedule A2 NOTE: Full authority is provided for the duties and functions disclosed in this Schedule subject to the extent of any limitations on authority stated in this table. Duties and functions Undertaking the financial management of funds and books of account Holding documents and maintaining records relating to the scheme (for example, the strata roll, notices, and minutes of meetings), Arranging building inspections and reports Effecting repairs to and maintaining common property or engaging appropriately qualified tradespersons to do Standard Work, with limitations on expenditure that may be incurred by the agent without obtaining the principal s approval Engaging appropriately qualified tradespersons to do Non-Standard Work, and the appointment on behalf of the owners corporation of a Principal Contractor for such Non-Standard Work, with limitations on expenditure that may be incurred by the agent without obtaining the principal s approval Paying disbursements and expenses incurred in connection with the agent s management of the scheme Arranging insurance cover for the scheme Limitations on Authority e.g. on expenditure (if nothing stated, then no limitations apply) Fee Method Issuing and serving notices to comply with a by-law Managing the sinking fund and the administrative fund Undertaking steps necessary to recover any money owing in relation to levies Representing the owners corporation or association in tribunal or court proceedings Paying accounts in relation to the scheme (for example, accounts for water charges, council rates and maintenance), Arranging and undertaking administrative duties in relation to annual general meetings and other general meetings * These fees have been negotiated between the parties to the agreement 14 of 17

15 Schedule B Fees * These fees have been negotiated between the parties to the agreement Item Hourly Rates* Charge (inclusive of GST) Unit 15 of 17

16 Schedule C - Disclosure schedule Schedule C1 refer to clause 3.4 of the agreement - The following providers pay a rebate, discount or commission to the agent: Name of company / person Amount / percentage of rebate, discount or commission Other information relating to the disclosure Schedule C2 refer to clause 3.5 of the agreement - The following providers pay a rebate, discount or commission to the agent: Name of company / person Amount / percentage of rebate, discount or commission Other information relating to the disclosure 16 of 17

17 Schedule D - Charges and associated fees* Item Charge (inclusive of GST) Unit * These fees and charges have been negotiated between the parties to the agreement 17 of 17