Tuesday, September 29, 2020

Strata Schemes Management Act 2015 No 50

Part 3
Division 4
Section 44

Functions of treasurer of owners corporation | Section 44

(1) General functions The functions of a treasurer of an owners corporation include the following—

(a)  to notify owners of any contributions levied in accordance with this Act,

(b)  to receive, acknowledge, bank and account for any money paid to the owners corporation,

(c)  to prepare any strata information certificate,

(d)  to keep the accounting records and prepare the financial statements.

(2) Delegation by treasurer of functions The treasurer of an owners corporation may delegate the exercise of any of the treasurer’s functions (other than this power of delegation) to another member of the strata committee of the owners corporation if—

(a)  the delegation is specifically approved by the strata committee, and

(b)  the strata committee specifically approves of the function being delegated to that member, and

(c)  the delegation is subject to any limitations as to time or otherwise that the strata committee requires.

(3)  While a delegate is acting in accordance with the terms of the delegation, the delegate is taken to be the treasurer of the owners corporation.

(4) Strata committee may require treasurer to exercise functions jointly The strata committee of an owners corporation may, by a written notice given to the treasurer of the owners corporation, order the treasurer not to exercise any of the treasurer’s functions that are specified in the notice unless the treasurer does so jointly with another person so specified.

© State of New South Wales Department of Customer Service. For current information go to www.nsw.gov.au.

Disclaimer: Reproduced from the Strata Schemes Management Act 2015 . 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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