(1) An owners corporation may set annual fees to cover—
(a) general administration; and
(b) maintenance and repairs; and
(c) insurance; and
(d) other recurrent obligations of the owners corporation.
(2) If the owners corporation has an approved maintenance plan, the annual fees must include fees that are—
(a) designated for the purpose of the maintenance plan; and
(b) sufficient to allow the maintenance plan to be implemented.
(3) The fees set must be based on lot liability.
S. 23(3A) inserted by No. 78/2013 s. 3.
(3A) Subsection (3) applies to the setting of fees relating to repairs, maintenance or other works even if the works are wholly or substantially for the benefit of some or one, but not all, of the lots affected by the owners corporation.
(4) The owners corporation may determine the times for payment of fees.