OWNERS CORPORATIONS ACT 2006 (NO 69 OF 2006) - SECT 25 Power to borrow money
OWNERS CORPORATIONS ACT 2006 (NO 69 OF 2006) - SECT 25
Power to borrow money(1) An owners corporation may borrow money—
(a) by ordinary resolution at a general meeting, 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.