BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 152 Body corporate’s duties about common property etc.

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 152

152 Body corporate’s duties about common property etc.

(1) The body corporate for a community titles scheme must—

(a) administer, manage and control the common property and body corporate assets reasonably and for the benefit of lot owners; and

(b) comply with the obligations with regard to common property and body corporate assets imposed under the regulation module applying to the scheme.

(2) Nothing in this part, or in a regulation made under this part, stops—

(a) an item of personal property that is a body corporate asset from becoming part of the common property because of its physical incorporation with common property; or

(b) a part of common property from becoming a body corporate asset because of its physical separation from common property.