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Several Strata Corporations delinquent in filing annual returns

A significant number of  strata corporations are still not filing annual returns with the Commission of  Strata Corporations.
 
This was disclosed by the Commission's Inspectorate Manager, Ainsworth Norton who  said there has been a worrying trend of  non-compliance in the filing of  the documents.     
 
Norton, who was speaking at a JIS Think Tank  said only 23 percent of  strata corporations have filed annual returns over the last four financial years.     
 
Norton said the low compliance rate is a big problem, because it does not afford the Commission the ability to deal with the issues that are prevalent within strata corporations.
 
Under the Strata Titles Act, strata corporations are required to file annual returns with the Commission.  
 
In 2010, 993 strata corporations were registered with the Commission.
 
It increased to 1,761 at the end of  last year.


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