Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) An owners corporation may, from time to time, determine the amount required by way of contributions from its members for the corporation's general funds.
(2) The general funds contribution payable for each unit is—
(a) the proportional share for the unit of the total general funds contributions; or
(b) a proportion of the total general funds contributions worked out in accordance with a method set out in an unopposed resolution.
(3) A resolution under subsection (2) (b) may provide that only stated unit owners (or unit owners in a stated class) are required to pay a particular contribution (or a contribution of a particular kind).
(4) A resolution under subsection (2) (b) may only be—
(a) amended by unopposed resolution; and
(b) revoked by special resolution.
(5) An owners corporation must give notice of a determination of general funds contributions to each unit owner.
(6) The notice must include the following information:
(a) the general funds contribution payable for the unit;
(b) the general funds contributions payable for each other unit;
(c) the general funds for which the contribution is required, the proportion of the contribution to be paid into each fund, and the total amount to be paid into each fund;
(d) the proportion of the total general funds contributions payable for the unit and how the proportion is worked out;
(e) the date when the contribution is payable, if paid in full (which must be no later than 28 days after the date of the notice);
(f) if the contribution is payable by instalments—the dates when the instalments are payable;
(g) how the contribution may be paid;
(h) details of any discount for early payment (under section 65 ) ;
(i) details of interest payable for late payment (under section 65 ) .
(7) A general fund contribution is payable by a unit owner—
(a) if paid in full—on the date stated in the notice; or
(b) if payable by instalments—on the dates stated in the notice.