123FFormal requirements for building management statement

123F Formal requirements for building management statement (1) A building management statement must set out the following: (a) the establishment of a committee (the building management committee) consisting of each building lessee; (b) the establishment and appointment of office holders for the implementation of the statement; (c) the functions of the building management committee and the office holders; (d) a process for resolving disputes between the building lessees; (e) a process for amending the statement; (f) the allocation of the costs of shared expenses relating to parts of the building, including the basis for that allocation on a user pays, lease value or other basis; (g) a process for reviewing the allocation of the costs mentioned in paragraph (f) to ensure that the allocation of costs remains fair, including as a minimum— (i) at least 1 review every 5 years; and (ii) a review as soon as practicable after any change in the shared facilities or services or the use of the shared facilities or services; (h) if a building lessee is an owners corporation—an arrangement to insure the building in accordance with the requirements prescribed by regulation; (i) an address and process for serving documents on the building management committee; (j) any other matter relating to the content of the statement (2) A building management statement may also include provision for any of the following: (a) safety and security measures for the building; (b) the appointment of a managing agent for the building as a whole; (c) measures for the control of unacceptable noise levels consistent with the terms of the leases in relation to which the statement is registered and any noise management plan; (d) service contracts for waste and other services; (e) an architectural maintenance code to preserve the appearance of the building; (f) easements for the building; (g) the operation, maintenance or renovation of the building structure as a whole including lift wells and utility conduits; (h) the operation, maintenance or renovation of the common facilities of the building; (i) access to the common facilities of the building; (j) insurance for the building in addition to the insurance arrangement mentioned in subsection (1) (h); (k) any other matter related to the management of the building. (3) For subsection (1) (h), all building lessees are taken to have an insurable interest in the building to the extent of the replacement value of the building.