An owners corporation has the following functions—
(a) to manage and administer the common property;
(b) to repair and maintain—
(i) the common property;
(ii) the chattels, fixtures, fittings and services related to the common property or its enjoyment;
(iii) equipment and services for which an easement or right exists for the benefit of the land affected by the owners corporation or which are otherwise for the benefit of all or some of the land affected by the owners corporation;
(c) to take out, maintain and pay premiums on insurance required or permitted by any Act or by Part 3 and any other insurance the owners corporation considers appropriate;
(d) to keep an owners corporation register;
(e) to provide an owners corporation certificate in accordance with Division 3 of Part 9 when requested;
(f) to carry out any other functions conferred on the owners corporation by—
(i) this Act or the regulations under this Act; or
(ii) the Subdivision Act 1988 or the regulations under that Act;
(iii) any other law; or
(iv) the rules of the owners corporation.
An owners corporation is a body corporate which is incorporated by registration of a plan of subdivision or a plan of strata or cluster subdivision. An owners corporation has perpetual succession and a common seal and is capable of suing and being sued in its own name. See section 28 of the Subdivision Act 1988 .