New South Wales Consolidated Acts

STRATA SCHEMES MANAGEMENT ACT 1996 - SECT 112

112 Agreement for payment to owner of consideration on transfer or lease of common property

An owners corporation may, in accordance with a special resolution, make an agreement with an owner for the payment to the owner of:

(a) the whole or any part of the consideration under any transaction proposed to be entered into by the owners corporation under Division 2 of Part 2 of the Strata Schemes (Freehold Development) Act 1973 or of the Strata Schemes (Leasehold Development) Act 1986 , or

(b) any money payable to the owners corporation under a by-law to which Division 4 of Part 5 of Chapter 2 applies.