46Contributions

46 Contributions (1) The body corporate may from time to time levy contributions in relation to the lots in the scheme to raise an amount the body corporate decides to be necessary to meet expected expenditure. (2) The contributions must be levied on a basis fixed by the management statement registered under this Act. (3) A contribution must be paid by a day fixed by the body corporate and notified to the owner of the lot by written notice of the amount payable. (4) The day fixed by the notice must be— (a) not earlier than 14 days after the owner is given the notice; and (b) not later than 28 days after the owner is given the notice. (5) The owner of the lot on the day by which the amount is payable is liable for the contribution and a person who later becomes an owner before the contribution is paid becomes separately and collectively liable for the payment.

By-laws Division 8.5 Section 47