The owners corporation, previously known as a 'body corporate,' comprises all the property owners within a strata scheme. When you purchase a property within such a scheme, you automatically become a part of the owner's corporation. Contrarily, you cease to be a member if you sell your property.

The owners corporation is responsible for making decisions that affect the overall scheme. This includes managing finances, insurance, record-keeping, executing documents, maintaining common property, establishing by-laws, organizing strata meetings, hiring a strata manager, employing a building manager, and ensuring compliance with planning, building, safety, and worker-related laws. Specific laws and procedures govern each of these responsibilities.

The strata committee, formerly called an 'executive committee,' consists of individuals elected by the owners corporation to assist in making decisions for the strata scheme.

The scope of decisions delegated to the strata committee is determined by the owners corporation. However, it's essential to note that the owners corporation retains the authority to override any decisions made by the strata committee. Generally, strata committees handle tasks such as approving day-to-day expenditures, including hiring repairers and arranging insurance, granting approval for applications under the scheme's by-laws (such as renovation requests), and issuing notices to enforce by-laws.

The strata committee members are elected during each annual general meeting (AGM). The number of committee members can vary but must not exceed nine. Two-lot schemes must have at least two members, with each property represented. In larger schemes with over 100 properties, a minimum of three committee members is required.

Owners can nominate one individual for election per property they own within the scheme. Nominations can be made by the property owner, another owner, or even someone who doesn't own property within the scheme, such as a tenant or a tenant representative. However, certain restrictions apply, barring individuals from joining the committee, such as being the building manager, leasing agent for properties within the scheme, having a connection to the original owner or developer, or owing money to the scheme at the time of the AGM.

Within the strata committee, members must appoint one or more individuals for specific office-bearer roles:
1. Chairperson: Responsible for running meetings and overseeing administrative matters.
2. Secretary: Manages meeting arrangements, prepares and distributes agendas and minutes, updates the strata roll, issues notices, and handles administrative tasks.
3. Treasurer: Maintains financial records and issues levy notices.

Understanding the roles and responsibilities of the owners corporation, strata committee, strata manager, and building manager is essential for harmonious community living within a strata scheme. These structures ensure that decisions are made efficiently and that the property is well-maintained and compliant with relevant regulations.