The Unit Titles Act 2010, which is the primary legislation relating to the creation and management of developments such as apartment blocks, was passed into law in April 2010. 

The new Act does not come into effect until new Regulations to support the Act have been developed.  More information on the new Regulations can be found on the Department of Building and Housing website. 

The new Unit Titles Act 2010 makes a number of changes to the Unit Titles Act 1972.  The most significant changes are those that:

• Clarify the definition of a principal unit - a principal unit must contain or be contained in a building.
• Streamline the process under which a development is built in stages.
• Create a sensible and fair system for calculating how much a unit owner should contribute to body corporate common funds.
• State that the body corporate owns the common property.
• Clarify and articulate the rights and responsibilities of unit owners and bodies corporate.
• Create fair and transparent governance and management structures.
• Lower the voting threshold for body corporate decisions from a unanimous resolution to a 75 per cent agreement.
• Provide a comprehensive disclosure regime for buyers and sellers, developers and bodies corporate.
• Provide a fully integrated and cost-effective dispute resolution service.

Read more: http://www.dbh.govt.nz/unit-titles-review-index.