Body Corporate and Community Management (Small Schemes Module) Regulation 2020
sec.88Application of administrative and sinking funds [ SM, s 169 ]
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sec.88 Application of administrative and sinking funds [ SM, s 169 ]
The sinking fund may be applied towards— spending of a capital or non-recurrent nature; and the periodic replacement of major items of a capital nature; and other spending that should reasonably be met from capital. All other spending of the body corporate must be met from the administrative fund. The cost of repainting the common property or replacing air- conditioning plant would be paid from the sinking fund. The cost of insurance would be paid from the administrative fund. (sec.88-ssec.1) The sinking fund may be applied towards— spending of a capital or non-recurrent nature; and the periodic replacement of major items of a capital nature; and other spending that should reasonably be met from capital. (sec.88-ssec.2) All other spending of the body corporate must be met from the administrative fund. The cost of repainting the common property or replacing air- conditioning plant would be paid from the sinking fund. The cost of insurance would be paid from the administrative fund.
- (a) spending of a capital or non-recurrent nature; and
- (b) the periodic replacement of major items of a capital nature; and
- (c) other spending that should reasonably be met from capital.
- 1 The cost of repainting the common property or replacing air- conditioning plant would be paid from the sinking fund.
- 2 The cost of insurance would be paid from the administrative fund.