The Strata Management Act 2015 regulates the management of strata schemes. It also oversees any disputes associated with strata schemes. The Strata Act in NSW was brought in on November 5th, 2015, and was intended to assist strata committees, the owners, and residents to exist together in the interest of the strata community. there are 18 strata by-laws that the owners corporations involved in strata schemes can either embrace or modify to ensure that all normal things are protected.