There are many new rules set out in MUD Bill
1. There is now a requirement to call a general meeting to agree the budget before the service charge is decided for the coming year
2. Directors can be elected for a maximum term of 3 years, then they must resign and look for re election at the AGM.
3. There is a requirement to include the basis of how the service charge is calculated and this must be put on all financial documentation
4. All Directors have their names and confirmation of any service charges outstanding, under the MUD act no owner with outstanding service charges can serve as a director
5. The common area's must be handed over by the developer to the property management company within 6 months of the MUD Bill being enacted (30th Sept 2011)
Whilst this does mean that the developer can be an acting director until 1st April 2014, it is highly unlikely that this will happen, most developers were on the board as they had responsibility for the common areas etc, generally once this is handed over they will step aside.
If you want to become involved in the management company I would urge you to attend the AGM, There will be people only too delighted to see another pro active person involved.
If you wish to know any further information feel free to pm me.