Friday, October 30, 2020

Owners Corporation Act 2006

Part 3
Division 1
Section 24

Extraordinary fees | Section 24

(1)     An owners corporation may levy special fees and charges designed to cover extraordinary items of expenditure.

S. 24(2) substituted by No. 78/2013 s. 4.

(2)     Subject to subsection (2A), the fees must be based on lot liability.

S. 24(2A) inserted by No. 78/2013 s. 4.

(2A)     Fees for extraordinary items of expenditure relating to repairs, maintenance or other works that are undertaken wholly or substantially for the benefit of some or one, but not all, of the lots affected by the owners corporation must be levied on the basis that the lot owner of the lot that benefits more pays more.

(3)     The owners corporation may determine the times for payment of the special fees and charges.

(4)     A special resolution is required when exercising a power under subsection (1) if the amount involved is more than twice the total amount of the current annual fees set under section 23.

(5)     Subsection (4) does not apply if the fees are levied to pay for or recoup the cost of repairs or maintenance carried out to any part of the property for which the owners corporation is responsible where immediate expenditure is or was necessary to ensure safety or to prevent significant loss or damage to persons or property.

© 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.

didn't find what you are looking for?

Try searching for It

Hello!

Drop us a message!