Friday, July 1, 2022

Owners Corporation Act 2006

Part 3
Division 1
Section 25

Power to borrow money | Section 25

(1)     An owners corporation may borrow money—

S. 25(1)(a) amended by No. 2/2008 s. 12(2).

(a)     by ordinary resolution, if the amount borrowed does not exceed the amount of the current annual fees of the owners corporation set under section 23; or

(b)     by special resolution in any other case.

(2)     An owners corporation may repay money borrowed.

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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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