This bill makes for a simpler regime and requires bodies corporate to endorse information as correct, and it entitles the buyer to more access to financial records, past copies of body corporate general minutes, and details of insurance cover. This bill will also strengthen the governance arrangements in relation to a body corporate. It restricts to 5 percent the number of proxy votes a single person can hold in a body corporate to prevent the unfortunate practice that has arisen of proxy farming. It also allows for more fair division of the costs of utility interests based on use, i.e., so that those living on the upper floor of an apartment building pay more for lift repairs.