Monday, September 28, 2020

Owners Corporation Act 2006

Part 3
Division 4
Section 42

Payments into maintenance fund | Section 42

If an owners corporation has established a maintenance fund, the following must be paid into that fund—

(a)     any part of the annual fees that is designated as being for the purpose of the maintenance plan;

(b)     any amounts received under an insurance policy in respect of the damage or destruction of property covered by the maintenance plan;

(c)     any interest earned on the investment of the money in the fund;

(d)     any amounts of a prescribed kind;

(e)     any amounts of a kind determined by the owners corporation.

S. 43 amended by No. 2/2008 s. 12(2).

© 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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