sec.39Dealing with (including disposal of) body corporate assets— Act , s 157

sec.39 Dealing with (including disposal of) body corporate assets— Act , s 157

The body corporate may— sell or otherwise dispose of a body corporate asset that is freehold land, or a leasehold interest in freehold land; or grant or amend a lease over a body corporate asset that is freehold land or another body corporate asset capable of being leased; or sell or otherwise dispose of a body corporate asset that is personal property (not including personal property mentioned in paragraph (a) or (b) , but including a licence or concession related to freehold land). The body corporate may exercise its powers under this section only if authorised by a lot owner agreement. (sec.39-ssec.1) The body corporate may— sell or otherwise dispose of a body corporate asset that is freehold land, or a leasehold interest in freehold land; or grant or amend a lease over a body corporate asset that is freehold land or another body corporate asset capable of being leased; or sell or otherwise dispose of a body corporate asset that is personal property (not including personal property mentioned in paragraph (a) or (b) , but including a licence or concession related to freehold land). (sec.39-ssec.2) The body corporate may exercise its powers under this section only if authorised by a lot owner agreement.

• (a) sell or otherwise dispose of a body corporate asset that is freehold land, or a leasehold interest in freehold land; or
• (b) grant or amend a lease over a body corporate asset that is freehold land or another body corporate asset capable of being leased; or
• (c) sell or otherwise dispose of a body corporate asset that is personal property (not including personal property mentioned in paragraph (a) or (b) , but including a licence or concession related to freehold land).