Owners corporation excluded from Corporations legislation
29 Owners corporation excluded from Corporations legislation
An owners corporation is declared to be an excluded matter for the purposes of section 5F of the Corporations Act in relation to the whole of the Corporations legislation, otherwise than to the extent that the owners corporation carries out activities that are not authorised by or under this Act or the Owners Corporations Act 2006.
Note
This section ensures that neither the Corporations Act nor Part 3 of the ASIC Act will apply in relation to an owners corporation in relation to its performance of functions or exercise of powers under this Act or the Owners Corporations Act 2006. Section 5F of the Corporations Act provides that if a State law declares a matter to be an excluded matter in relation to the whole of the Corporations legislation other than to a specified extent, then that legislation will not apply, except to the specified extent, in relation to that matter in the State concerned.
Division 2—Common property
S. 30 substituted by No. 69/2006 s. 211.
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