South Australian Consolidated Regulations

COMMUNITY TITLES REGULATIONS 1996 - REG 19

19—Unanimous or special resolution for acquisition of property

        (1)         A community corporation's acquisition of a freehold or leasehold interest in a lot must be authorised by a unanimous resolution of the corporation (see section 112(3)(a) of the Act).

        (2)         If the cost of the acquisition by a community corporation of property (other than property referred to in subregulation (1))—

            (a)         is $5 000 or more the acquisition must be authorised by a unanimous resolution of the corporation; or

            (b)         is less than $5 000 the acquisition must be authorised by a special resolution of the corporation.