Saturday, September 26, 2020

Strata Schemes Management Act 2015 No 50

Part 6
Division 2
Section 116

Powers to deal with property | Section 116

(1)  An owners corporation may dispose of or otherwise deal with any lot vested in the owners corporation as a result of a subdivision effected under section 13 of the Strata Schemes Development Act 2015.

(2)  The owners corporation may acquire or dispose of personal property or otherwise deal with personal property of the owners corporation.

(3)  Section 50 (1) (d) of the Interpretation Act 1987 does not apply to an owners corporation.

Note.

Section 50 (1) (d) of the Interpretation Act 1987 provides that a statutory corporation may, for the purpose of enabling it to exercise its functions, purchase, exchange, take on lease, hold, dispose of and otherwise deal with property.

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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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