105Management contracts

#### 105 Management contracts 105 Management contracts > > (1) In this section— > > > > management contract means a contract or other arrangement under which— > > > > > (a) a person who is not an officer of the society agrees to perform the whole, or a substantial part, of the functions of the society, or > > > > > (b) a society agrees to perform the whole or a substantial part of its functions— > > > > > > > (i) in a particular way, or > > > > > > > (ii) in accordance with the directions of any person, or > > > > > > > (iii) subject to specified restrictions or conditions. > > > (2) A society must not enter into a management contract without the prior written approval of the Registrar. > > > > Maximum penalty—50 penalty units. > > > (3) The Registrar may subject the Registrar’s approval under subsection (2) to conditions. > > > (4) A management contract entered into in contravention of subsection (2) is void. > > > (5) A management contract entered into before the commencement of this section becomes void 6 months after that commencement unless the Registrar directs that it continue in operation. > > **s 105:** Am 1999 No 2, Sch 4 \[6\].