A: Many Bodies Corporates have By Laws which prohibit any business being conducted and this could even include a 'Garage Sale'!
The Business may/could effect Visitors parking, frequent use of Common Property with clients coming and going, therefore creating potentially a Public Liability Risk. Therefore the Body Corporates Insurer must be advised as this may involve changing the current 'Residential' Insurance cover over to 'Retail' which of course is much more expensive.
The person wishing to run a home business will need to seek permission of the Body Corporate .This may require depending on the Module your scheme is registered under a Special Resolution which would mean at least 75% of all lot owners would have to agree to the business being conducted.
This approval can only be undertaken at a general meeting of the Body Corporate. and this if approved could mean updating the current By Laws and Insurance Policy to reflect these changes. These changes are of course costly and could therefore if agreed be passed onto the Owner wishing to conduct a business. Things to consider when giving approval would be how much impact would this business have in relation to the peaceful enjoyment of all parties concerned.