Wednesday, September 30, 2020

Owners Corporation Act 2006

Part 6
Section 122

Duties of manager | Section 122

(1)     A manager—

(a)     must act honestly and in good faith in the performance of the manager’s functions; and

(b)     must exercise due care and diligence in the performance of the manager’s functions; and

(c)     must not make improper use of the manager’s position to gain, directly or indirectly, an advantage personally or for any other person.

(2)     A manager—

(a)     holds all money held on behalf of an owners corporation on trust for the owners corporation; and

(b)     must account separately for the money held for each owners corporation by the manager.

© State of Victoria (Consumer Affairs Victoria). For the latest information please go to https://www.legislation.vic.gov.au/in-force/acts/owners-corporations-act-2006/017

Disclaimer: Reproduced from the Owners Corporation Act 2006. 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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