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New Companies Act and HOA Pty Ltd

By Annie Graeme on Mon, 05 Mar 2012 at 12:11

What protection does the ne Companies Act provide home owners?

HOA are Planned community property development
The abusive way in which some HOA Pty Ltd Directors HOA Pty Ltd run their HOA, makes one propose:
HOAs are subject to the same laws and protections of our government while still retaining the individual rules and regulations so dear to many as may be their belief in protecting property values. In short,
1. all amenities can be turned over to private operators, outside “operators” to run such private facilities.
2. the current rules and regulations of HOAs would be incorporated into the municipal subject to the same application of the laws as any other municipals. Certain rules and procedures would not make the "cut", as expected in order for justice to prevail.
3. use of the subdivision's facilities can be restricted to homeowners -- only members.
There is an important distinction between the HOA and the subdivision real estate "package" known as a "planned community". HOA supporters continually cloud this distinction, because a planned community can exist without the private, undemocratic governing body known as the homeowners association. "Doing away with HOAs", as sometimes seen in the media, falsely implies doing away with the planned community real estate package. There is no need to impose undemocratic private governments over these communities of South Africa that operate outside the Constitution, ignore Human rights issues, ignores the Competition Law, and the Consumer Protection Act.
Comments on how the Consumer Protection Act can help homeowners will be welcome. And the competition act too.

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RE: New Companies Act and HOA Pty Ltd

Anne Granada replied on Wed, 07 Mar 2012 at 09:57

It has been found that the directors of our non-profit HOA Pty Ltd enriched themselves at our expense. , We did not pick this up until 4 owners started investigating. For how long back can we ask them to re pay us so that we are only charged the correct levies? They were also clearly in breach of their fiduciary duties and deliberately set about to deceive the other owners. Yes, AGM's were held annually, but to mislead the other owners pertinent and vital information was not forthcoming. Do you suggest we lay a charge of fraud? gross mismangement of funds has taken place.

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