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Statuotory Review of Management Rights Agreements
By:  Todd Garsden, Partner - Hynes Legal

Any management rights agreement is a contract, and like any contract it is binding on both parties to it.  

The only way to vary a management rights agreement is usually:-
1. by agreement between the parties via some form of commercial negotiation, where neither party is forced to agree to anything unless they want to; or
2. through a lawful mechanism under the agreement itself (like a market review of caretaking remuneration), which might set out how a disagreement is dealt with via through the decision of a third party.

Under the BCCM Act there is also a third way - a statutory review.  A statutory review can be triggered by either the body corporate or the caretaker in a set of very specific circumstances.


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