Thursday, October 28, 2021

Strata Schemes Management Act 2015 No 50

Part 5
Division 5
Section 100

Power to borrow money | Section 100

(1)  An owners corporation may borrow money and secure the repayment of money and of any interest in any manner agreed between the owners corporation and the lender, otherwise than by charging the repayment on the common property.

(2)  An owners corporation must not borrow money, or secure the payment of money and interest, unless a resolution approving the relevant loan has been passed at a general meeting of the owners corporation.

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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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