Reasonable refusal of payment plan for overdue contributions—the Act, s 85(5B)
17J Reasonable refusal of payment plan for overdue contributions—the Act, s 85(5B)
A refusal by an owners corporation of a request for a payment plan is reasonable if entering into the proposed payment plan would cause insufficient funds to be in—
the capital works fund, or
the administrative fund.
In this section—
insufficient funds, for a fund, means—
the fund would be in deficit, or
there would be insufficient funds in the fund to comply with—
an undertaking accepted by the Secretary under the Act, section 188T(3), or
a compliance notice given by the Secretary under the Act, section 188X(1), or
an order made under the Act or another Act, or
for the capital works fund—there would be insufficient funds to enable the owners corporation to comply with its duty under the Act, section 106 to maintain and repair common property and any personal property vested in the owners corporation, or
for the administrative fund—there would be insufficient funds to pay expenses.
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