Thursday, October 1, 2020

Body Corporate And Community Management Act 1997

Chapter 2
Part 3
Division 2
Section 42

Prohibition on benefits | Section 42

(1)The body corporate must not receive, whether directly or indirectly, an amount or benefit by way of a premium for the lease.

(2)If an amount or benefit is given to or accepted by the body corporate in contravention of subsection (1), the person who paid the amount or conferred the benefit may recover from the body corporate the amount, or the value of the benefit, as a debt.

(3)Subsection (1) does not apply to an amount or benefit representing fair market value for an entitlement conferred by the body corporate under the lease.

© Sourced from the Queensland Legislation website at 1 April 2020. For the latest information on Queensland Government legislation please go to https://www.legislation.qld.gov.au.

Disclaimer: Reproduced from the Body Corporate and Community Management Act 1997. This website does not give legal advice or other professional advice. You should seek legal or other professional advice before acting and not rely on any of the content on this website.

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