New law will reg­u­late sec­tional ti­tle bod­ies

Business Day - Home Front - - HOMEFRONT -

RULES Two acts were signed re­cently by the Pres­i­dent that will af­fect sec­tional ti­tle and com­mu­nity schemes. “The first is the Sec­tional Ti­tles Schemes Man­age­ment Act and the sec­ond is the Com­mu­nity Schemes Om­bud Ser­vices Act,” said Martin Bester, MD of In­ter­sect Sec­tional Ti­tle Ser­vices. “Though the ap­pli­ca­tion of the above acts is yet to be tested, it is be­lieved that the first will seek to as­sist bod­ies cor­po­rate to man­age and reg­u­late sec­tional ti­tle schemes, in­clud­ing the ap­pli­ca­tion of the rules, and to es­tab­lish a sec­tional ti­tle schemes man­age­ment ad­vi­sory coun­cil.” Bester said the coun­cil will be tasked with mak­ing rec­om­men­da­tions and ad­vis­ing the Min­is­ter on the pro­vi­sions of the act, as well as keep­ing the im­ple­men­ta­tion of the act and the reg­u­la­tions un­der reg­u­lar re­view. “The coun­cil will con­sist of not more than seven but not less than five mem­bers, of whom one must be the chief om­bud, one must be a se­nior of­fi­cial of the depart­ment des­ig­nated by the di­rec­tor-gen­eral, and the re­main­der must be per­sons ap­pointed by the Min­is­ter who must have skills, knowl­edge and ex­pe­ri­ence in the man­age­ment of a range of dif­fer­ent types of schemes. The sec­ond act aims to pro­vide for the es­tab­lish­ment of the Com­mu­nity Schemes Om­bud Ser­vice and a dis­pute res­o­lu­tion mech­a­nism in com­mu­nity schemes,” says Bester. “This ser­vice must de­velop and pro­vide a dis­pute res­o­lu­tion ser­vice; pro­vide train­ing for con­cil­ia­tors and ad­ju­di­ca­tors; reg­u­late, mon­i­tor and con­trol the qual­ity of all sec­tional ti­tles scheme gov­er­nance doc­u­men­ta­tion and take cus­tody of, pre­serve and pro­vide pub­lic ac­cess to such doc­u­men­ta­tion.”

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.