Page 2943 - Week 09 - Thursday, 18 August 2005

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insert

11A Section  30

renumber subsections when Act next republished under Legislation Act

3

Proposed new clause 14A

Page 5, line 23—

insert

14A New  section 64A

insert

64A General  and sinking funds in staged developments

(1) This section applies to a general fund or sinking fund established by an owners corporation for a staged development if the development has not been completed.

(2) A contribution to a general fund is not payable by the owner of a unit if the unit is in an uncompleted stage of the development.

(3) A contribution to a sinking fund is not payable by the owner of a unit if the unit is in an uncompleted stage of the development.

(4) The owners corporation must not pay an amount from a general fund or sinking fund in relation to an uncompleted stage of the development.

4

Clause 16

Proposed new section 110A (2)

Page 6, line 15—

omit proposed new section 110A (2), substitute

(2) The people entitled to vote on the motion are as follows:

(a) if the motion is only about an uncompleted stage of the development—the people entitled to vote under section 110 in relation to units in the uncompleted stages of the development;

(b) if the motion is only about a completed stage of the development—the people entitled to vote under section 110 in relation to units in the completed stages of the development;

(c) in any other case—the people entitled to vote under section 110.

5

Proposed new clause 17

Page 6, line 20—

insert

17 Building insurance by  owners corporation

 New  section 132 (3)

insert

(3) In this section:

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