18Payment plans for unpaid contributions—the Act, s 90(7)

18 Payment plans for unpaid contributions—the Act, s 90(7)

18 Payment plans for unpaid contributions—the Act, s 90(7)

(1) A payment plan for the payment of overdue contributions must be in writing and must contain the following—

(a) the name of the member of the association and the title details of the lot,

(b) the address for service of the member,

(c) the amount of the overdue contributions,

(d) the amount of the interest payable for the overdue contributions and the way in which it is calculated,

(e) the schedule of payments for the amounts owing and the period for which the plan applies,

(f) the way in which the payments must be made,

(g) contact details for a member of the association committee or a managing agent who is to be responsible for matters arising in relation to the payment plan,

(h) a statement that a further plan may be agreed to by the association by resolution,

(i) the date the payment plan was agreed to.

(2) The association committee must, at the request of a member of the association who has entered into a payment plan, give the member a written statement of the plan—

(a) for each calendar month, or a longer period specified by the member, and

(b) setting out the payments made during the month or period and the amount of unpaid contributions, including the interest owing.

s 18: Am 2025 (505), Sch 2[4].