Ms Dorothy Donovan:

In its initial years, when developers were handing over units, it provided a system where a management company had not been set up. In fact, I did a case which involved a person who had purchased an apartment and had difficulty getting a loan with the bank because the unit had not been taken over by the owners, essentially, or by the management company. The 2011 Act had a provision for that and was able to do an opinion on it. She was able to draw down her loan. I suspect at this stage developers are more up to speed on what needs to be done.