Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) The sinking fund contribution payable for each unit for a financial year is—
(a) the proportional share for the unit of the total sinking fund amount for the financial year; or
(b) a proportion of the total sinking fund contributions worked out in accordance with a method set out in an unopposed resolution.
(2) A resolution under subsection (1) (b) may provide that only stated unit owners (or unit owners in a stated class) are required to pay a contribution to the sinking fund.
(3) A resolution under subsection (1) (b) may only be—
(a) amended by unopposed resolution; or
(b) revoked by special resolution.
(4) An owners corporation must, within 1 month after an annual general meeting, give notice to each unit owner of the determination of sinking fund contributions for the financial year when the meeting takes place.
(5) The notice must include the following information:
(a) the sinking fund contribution payable for the unit;
(b) the sinking fund contributions payable for each other unit;
(c) the total sinking fund amount;
(d) the proportion of the total sinking fund amount 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).
(6) A sinking 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.