Parliament has approved new regulations to the Registration (Strata Titles) Act, which provide for an initial registration fee per strata lot of $400-$500, and an annual registration fee of up to $12,000. The Strata Act was signed into law by Governor General Sir Patrick Allen in December 2009, but the regulations were passed in the House of Representatives and the Senate just last week.
The strata regulations provide that the functions of strata corporations are to be supervised and monitored by a strata commission. The strata commission has been given the right to set its fee at such a level to maintain its self-funded viability. The Government has noted that a policy decision was taken on this, in order to ensure that the commission was not funded from Jamaica’s national budget.
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