Discounts—amounts owing

In force

(1)

An owners corporation for a units plan may, by ordinary resolution, decide that a stated discount applies to an amount owing to the corporation by a unit owner if—

(a)

the amount is paid to the corporation before the date it becomes payable; or

(b)

for contributions payable by instalments—if the contribution is paid—

(i)

in full on or before the date stated in the notice of the contribution for payment in full; or

(ii)

in another way stated in the resolution.

(2)

In this section:

contribution means a general fund contribution or a sinking fund contribution.

This Act’s bill:Explanatory statement Second reading speech

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93 Discounts—amounts owing