Body Corporate and Community Management (Commercial Module) Regulation 2020
sec.172Register of assets [ SM, s 226 ]
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sec.172 Register of assets [ SM, s 226 ]
The body corporate must keep a register of body corporate assets and record in it all body corporate assets of more than $1,000 in value. The register must show the following details for each asset recorded— a brief description of the asset; whether the asset was purchased or was a gift; when the asset became a body corporate asset; if the asset was purchased— the cost of the asset; and the name and address of the person from whom the asset was purchased; if the asset was a gift— its estimated value; and the name and address of the donor; if the asset is mortgaged or the subject of a charge— the amount secured by the mortgage or charge when the mortgage was entered into or the charge was created, and the amount of each further advance made under the security of the mortgage or charge; and the period within which the amount secured must be repaid; and the interest rate payable; and the name of the mortgagee or chargee. (sec.172-ssec.1) The body corporate must keep a register of body corporate assets and record in it all body corporate assets of more than $1,000 in value. (sec.172-ssec.2) The register must show the following details for each asset recorded— a brief description of the asset; whether the asset was purchased or was a gift; when the asset became a body corporate asset; if the asset was purchased— the cost of the asset; and the name and address of the person from whom the asset was purchased; if the asset was a gift— its estimated value; and the name and address of the donor; if the asset is mortgaged or the subject of a charge— the amount secured by the mortgage or charge when the mortgage was entered into or the charge was created, and the amount of each further advance made under the security of the mortgage or charge; and the period within which the amount secured must be repaid; and the interest rate payable; and the name of the mortgagee or chargee.
- (a) a brief description of the asset;
- (b) whether the asset was purchased or was a gift;
- (c) when the asset became a body corporate asset;
- (d) if the asset was purchased— (i) the cost of the asset; and (ii) the name and address of the person from whom the asset was purchased;
- (i) the cost of the asset; and
- (ii) the name and address of the person from whom the asset was purchased;
- (e) if the asset was a gift— (i) its estimated value; and (ii) the name and address of the donor;
- (i) its estimated value; and
- (ii) the name and address of the donor;
- (f) if the asset is mortgaged or the subject of a charge— (i) the amount secured by the mortgage or charge when the mortgage was entered into or the charge was created, and the amount of each further advance made under the security of the mortgage or charge; and (ii) the period within which the amount secured must be repaid; and (iii) the interest rate payable; and (iv) the name of the mortgagee or chargee.