New South Wales Consolidated Acts

STRATA SCHEMES MANAGEMENT ACT 1996 - SECT 23

23 What are the functions of the treasurer of an owners corporation?

(1) The functions of a treasurer of an owners corporation include the following:

(a) to notify owners of any contributions levied in accordance with this Act,

(b) to receive, acknowledge, bank and account for any money paid to the owners corporation,

(c) to prepare any certificate applied for under Division 4 of Part 5 of Chapter 3,

(d) to keep the accounting records and prepare the financial statements.

(2) The treasurer of an owners corporation may delegate the exercise of any of the treasurer’s functions (other than this power of delegation) to another member of the executive committee if:

(a) the delegation is specifically approved by the executive committee of the owners corporation, and

(b) the executive committee specifically approves of the function being delegated to that member of the executive committee, and

(c) the delegation is subject to such limitations as to time or otherwise as the executive committee requires.

(3) While a delegate is acting in accordance with the terms of such a delegation, the delegate is taken to be the treasurer of the owners corporation.

(4) The executive committee of an owners corporation may, by a notice in writing served on the treasurer of the owners corporation, order the treasurer not to exercise any of the treasurer’s functions that are specified in the notice unless the treasurer does so jointly with another person so specified.