Section 32F links the section 32 statement to the Owners Corporations Act 2006. The certificate is issued under section 151 of that Act and comes with the documents required under section 151(4)(b), being the rules of the owners corporation, the prescribed statement providing information to prospective buyers, all resolutions made at the last annual general meeting, and a statement that further information can be obtained by inspecting the owners corporation register.
A vendor who holds all the required information may attach it without obtaining a fresh certificate. A certificate is not required where the owners corporation is inactive, meaning it has not met, struck levies or held insurance in the preceding set period.
The certificate reveals fees, any special levies, insurance and current disputes, which bear directly on the cost and risk of owning in the scheme. Owners corporation charges are not a charge on the land but are the personal responsibility of the owner for the time being under section 28 of the Owners Corporations Act 2006, so a buyer who does not ensure existing charges are paid at settlement becomes liable for them as the new owner.
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An inactive owners corporation can signal underfunded common property. Recurring fees are adjustable at settlement, but one off special levies are not, and unpaid charges follow ownership rather than remaining with the former owner.
Law referenced: Sale of Land Act 1962 s 32F; Owners Corporations Act 2006 ss 151, 28.