SCA NSW Beats the Government at their own Game

It seems that there’s now a surfeit of new rules for NSW strata managers about conflicts of interest with NSW Fair Trading introducing the Strata Managing Agents Legislation Amendment Bill 2024 and Strata Community Association of NSW releasing its Best Practices Guide for Managing Conflicts of Interest in Strata.

And, it even looks like SCA NSW beat NSW Fair Trading to the punch by releasing its rules on 7 August 2024 a full 7 days before the NSW Bill was introduced to Parliament.

SCA NSW says that:

• a conflict of interest arises when personal interests interfere with the professional responsibilities and performance of strata managers,

• conflicts of interest undermine trust and lead to legal consequences,

• their recent member audits have highlighted areas where improvements in conflict of interest management can make a significant impact,

• best practice involves identifying and evaluating conflicts, keeping records about conflicts, education about conflicts, and monitoring compliance, and

• that compliance isn’t just ‘box ticking’, it’s fundamental to stop unethical practices.

You can find out more about SCA NSW’s Best Practices Guide for Managing Conflicts of Interest in Strata here. 

But, you can’t see the actual Guides unless you’re a strata manager member of SCA.

So, I’ve asked for copies and will publish them if I get them.

Hopefully, there isn’t a conflict of rules on conflicts of interests between what SCA NSW is saying and doing what NSW Fair Trading is legislating.