STRATA TITLES ACT 1988 - SECT 27
STRATA TITLES ACT 1988 - SECT 27
(1) A
strata corporation may raise such funds (including reserve funds for future
expenditure of a capital nature) as it thinks necessary.
(2) For the purpose of
raising funds the strata corporation may, by ordinary resolution, levy
contributions against all unit holders.
(3) The
contributions—
(a) will
be proportional to the unit entitlements of the various units; or
(b) will
be determined on such other basis as the strata corporation decides by
unanimous resolution.
(4) A
strata corporation may, by ordinary resolution—
(a)
permit contributions to be paid in instalments specified in the resolution;
and
(b) fix
(in accordance with the regulations) interest payable in respect of a
contribution, or an instalment of a contribution, that is in arrears.
(5) The
strata corporation may recover an unpaid contribution (and interest on any
such contribution), as a debt, from the unit holder of the unit in respect of
which the contribution is payable (whether or not that person was the
unit holder when the liability arose).
(6) If the strata
corporation carries out work that wholly or substantially benefits a
particular unit or group of units, the corporation may, subject to any
agreement to the contrary, recover the cost of that work as a debt from the
unit holder or unit holders of the unit or units.
(7) Where the cost
referred to in subsection (6) is recoverable from two or more
unit holders, the extent of their liability will be proportioned according to
the unit entitlements of their respective units.
(8) An amount paid by
a person under this section is not recoverable by the person from the
strata corporation when he or she ceases to be a unit holder.