Community Schemes Ombud Service Practice Directive 01/2018: Amendment of the Practice Directive on Paymemt of Levies and Fees.
Objective of the Practice Directive
The objective of the Practice Directive is to provide operational guidelines to the Community Schemes, on the process to be followed for the payment of levies and fees. The directive gives more information about the implementation of the Community Schemes Ombud Service Act (CSOS Act) and the Regulations but does not replace, override or supersede the CSOS Act and the Regulations.
It applies to all Community Schemes, Managing Agents and the CSOS and covers the following issues:
- How payments to the CSOS are to be made;
- Payment reference numbers
- Payment of the CSOS Levy
- What constitutes a unit;
- Payment of levies in a scheme within a scheme;
- Invoicing and receipt statements;
- Payment intervals;
- Non-payment of levies and fees;
- Debt collection;
- Vat payment;
- Change of CSOS Bank Account
- Commencement of the Directive (14 June 2018).