BODY CORPORATE AND COMMUNITY MANAGEMENT (STANDARD MODULE) REGULATION 2008 No. 273 - SECT 167 167 Dealing with (including disposal of) body corporate assets--Act, s 157

BODY CORPORATE AND COMMUNITY MANAGEMENT (STANDARD MODULE) REGULATION 2008 No. 273 - SECT 167

The body corporate may--

(a) sell or otherwise dispose of a body corporate asset that is freehold land, or a leasehold interest in freehold land, only if authorised by resolution without dissent; or

(b) grant or amend a lease over a body corporate asset that is freehold land, or another body corporate asset capable of being leased, only if authorised by--

(i) if the term of the lease, as granted or as amended, is more than 3 years--resolution without dissent; or

(ii) if subparagraph (i) does not apply--special resolution; or

(c) sell or otherwise dispose of a body corporate asset that is personal property (not including personal property mentioned in paragraph (a) or (b), but including a licence or concession related to freehold land) only if authorised by special resolution, if the market value of the asset is more than the greater of the following amounts--

(i) $1000;

(ii) an amount worked out by multiplying the number of lots included in the community titles scheme by $200.