New South Wales Consolidated Acts

STRATA SCHEMES MANAGEMENT ACT 1996 - SECT 69

69 Sinking fund to be established

(1) An owners corporation must establish a sinking fund.

(2) However, an owners corporation for a strata scheme comprising 2 lots need not establish a sinking fund if:

(a) the owners corporation so determines by unanimous resolution, and

(b) the buildings comprised in one of those lots are physically detached from the buildings comprised in the other lot, and

(c) no building or part of a building in the strata scheme is situated outside those lots.