BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 96
Body corporate must not carry on business
BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 96
Body corporate must not carry on business
96 Body corporate must not carry on business
(1) A body corporate must not carry on a business. Examples— A body
corporate must not carry on business as— • a letting agent
• a tour
operator
• a restaurant business
• a real estate developer
• a land
trader.
(2) However, the body corporate may— (a) engage in business
activities to the extent necessary for properly carrying out its functions;
and
(b) invest amounts not immediately required for its purposes in the way a
trustee may invest trust funds.
Examples for subsection (2)(a)— 1 leasing
part of the common property
2 selling body corporate assets no longer
required for the scheme
