Special rules for 2, 3, 4 or 5‑lot schemes
140 Special rules for 2, 3, 4 or 5‑lot schemes
A strata company for a 2‑lot scheme —
may, but is not required to, perform a designated function; and
cannot establish an administrative fund unless required to do so by scheme by‑laws.
The scheme by‑laws for a 3, 4 or 5‑lot scheme may exempt the strata company from a designated function.
However, the Tribunal may, on application by a member of the strata company, require a strata company to perform a designated function despite this section.
In this section —
designated function means a function conferred under any of the following sections or included in this definition by the regulations —
Section | Description for information only |
|---|---|
Section 100(1)(a) | Administrative fund |
Section 101 | Accounting records and statement of account |
Section 104(1)(b) | Minutes of meetings |
Section 104(3)(a) | Letterbox |
Section 105(1) | Roll to be kept by strata company. |
[Section 140 inserted: No. 30 of 2018 s. 83.]
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