A story about new regulations for stratas in the Wednesday, Feb. 29 North Shore News contained incomplete information about requirements for filing a depreciation report.
According to the website www.bclaws.ca, a strata corporation can opt out of a depreciation report if a resolution is passed by three-quarters majority vote at an annual or special general meeting. Corporations can also elect to opt out if they are members of a prescribed class of strata corporations. For more information visit the website page at www.bclaws.ca/EPLibraries/bclaws_new/document/ID/ freeside/98043_00.
