Published by the former Minister, Brendan Smith last week it will begin to operate in April as the Multi-Unit Developments Act 2011.
The Act also contains detailed provisions concerning the management and operation of owners' management companies, including rules relating to the holding of annual general meetings; the calculation of service charges; the establishment of sinking funds and the making of house rules.
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The legislation will apply to multi-unit developments containing residential units only and to mixed-use developments containing residential units.
It will also apply to housing estates which have owners' management companies.
Speaking before the new Dáil was formed today, the ex-Justice Minister Brendan Smith said: "For the first time in Irish law, it provides a comprehensive legislative framework for multi-unit developments.
"It represents a very significant step towards enabling apartment owners in multi-unit developments to take control of the common areas of the developments and to manage those areas for the benefit of all the residents.
"Detailed rules on calculation and apportionment of service charges (including an obligation on developers to pay service charges on all unsold units) and on establishment of a sinking fund will help to ensure the future sustainability of such developments are included," he said.
(BMcC)
