77Administrative fund

#### 77 Administrative fund 77 Administrative fund > > (1) Establishment of fund An association must establish an administrative fund. > > > (2) Amounts payable to fund An association must pay the following amounts into the administrative fund— > > > > > (a) the contributions levied on, and paid by, members for payment into the fund, > > > > > (b) the proceeds of the disposal of any personal property of the association, > > > > > (c) fees paid to the association for inspection of its records and the provision of information and certificates relating to its records, > > > > > (d) monetary penalties payable to the association under this Act, > > > > > (e) the proceeds of investment of the fund. > > > (3) An association may also pay the following amounts into the administrative fund— > > > > > (a) amounts paid to the association by way of discharge of insurance claims, > > > > > (b) income of the association, other than proceeds of investment of the capital works fund, > > > > > (c) amounts that may be, but are not required to be, paid into the fund under this Act. > > > (4) Amounts payable from fund An association may pay money from its administrative fund only for the following purposes— > > > > > (a) payments of the kind for which estimates have been made under section 83(1), > > > > > (b) payments made in accordance with this Division on a distribution of a surplus in the fund, > > > > > (c) payments to a member of the association committee in accordance with this Act, > > > > > (d) other payments in connection with exercising its functions under this Act or the by-laws, or the [Community Land Development Act 2021](/view/html/inforce/current/act-2021-006), except payments that are permitted to be made from the capital works fund, > > > > > (e) monetary penalties payable by the association under this Act, > > > > > (f) the transfer of money to the capital works fund or to pay expenditure that should have been paid from the capital works fund.