117
CurrentLimitations on exercise of powers
Part 8Strata company
Division 1Functions
Subdivision 8Limitations
117 Limitations on exercise of powers
(1)
A strata company must not —
(a)
acquire or dispose of land, or an interest in land, except as authorised under section 92 or 93; or
(b)
mortgage common property; or
(c)
act as a guarantor; or
(d)
establish a corporation or subsidiary of a corporation; or
(e)
engage in an activity that a strata company must not engage in under the regulations.
(2)
A strata company must not, except as authorised by resolution without dissent, perform or exercise a function that the regulations allow to be exercised only as authorised by resolution without dissent.
[Section 117 inserted: No. 30 of 2018 s. 83.]
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