Victorian Consolidated Legislation

Owners Corporations Act 2006 - SECT 25

Power to borrow money

25. Power to borrow money



(1) An owners corporation may borrow money-

   (a)  by ordinary resolution, if the amount borrowed does not exceed the
        amount of the current annual fees of the owners corporation set under
        section 23; or

   (b)  by special resolution in any other case.

(2) An owners corporation may repay money borrowed.