Victorian Consolidated Legislation

Subdivision Act 1988 - SECT 29

Owners corporation excluded from Corporations legislation

29. Owners corporation excluded from Corporations legislation

An owners corporation is declared to be an excluded matter for the purposes of
section 5F of the Corporations Act in relation to the whole of the
Corporations legislation, otherwise than to the extent that the owners
corporation carries out activities that are not authorised by or under this
Act or the Owners Corporations Act 2006. Note This section ensures that
neither the Corporations Act nor Part 3 of the ASIC Act will apply in relation
to an owners corporation in relation to its performance of functions or
exercise of powers under this Act or the Owners Corporations Act 2006. Section
5F of the Corporations Act provides that if a State law declares a matter to
be an excluded matter in relation to the whole of the Corporations legislation
other than to a specified extent, then that legislation will not apply, except
to the specified extent, in relation to that matter in the State concerned.

Division 2-Common property