I propose to take Questions Nos. 737, 839, 841, 850 and 869 together.
At present, the Minister for Justice and his Department continue to have responsibility for the oversight of Owner Management Companies (OMCs) and related regulations.
Under Housing for All, so as to ensure that OMCs are financially sustainable, the Department of Justice, in collaboration with my Department is committed to making regulations under the Multi-Unit Developments Act 2011 (MUD Act), with regard to both sinking funds and service charges. I understand that these Regulations are now at an advanced stage of preparation within that Department.
Under the Programme for Government my Department will take responsibility for the Multi-Unit Development Acts to streamline support for owners’ management companies and improve oversight.
A timeline for the transfer of functions from the Department of Justice is being advanced and engagement between our Departments is ongoing to ensure this happens in a well-managed and efficient manner.