1The owner of a development lot is not a member of the corporation.

1 The owner of a development lot is not a member of the corporation. 75—Functions and powers of corporations (1) The functions of a corporation are— (a) to administer, manage and control the common property for the benefit of the owners of the community lots; and (b) to maintain the common property and the property of the corporation in good order and condition; and (c) where practicable, to establish and maintain lawns or gardens on those parts of the common property not required or used for any other purpose; and (d) to enforce the by-laws and the development contracts (if any); and (e) to carry out the other functions assigned to it by this Act or conferred on it by the by-laws. (2) Subject to this section, a community corporation has all the powers of a natural person for the purpose of carrying out its functions as well as the powers conferred by the other provisions of this Act. (3) A corporation's decision to erect a building on, or to make any other improvements to, the common property (other than those referred to in subsection (1)(c)) must be made by special resolution. (4) A corporation's power to carry on business is limited to— (a) activities necessary or desirable to carry out its functions; and (b) investment of money held by it that is not immediately required in carrying out its functions in the same manner and subject to the same requirements as a trustee investing trust funds under the Trustee Act 1936; and (c) use of the common property or the property of the corporation to produce income (but only if authorised by a unanimous resolution of the corporation). (5) A community corporation can only delegate its functions or powers to the extent permitted by Division 1A. 76—Presiding officer, treasurer and secretary (1) A community corporation must, by ordinary resolution, appoint a presiding officer, treasurer and secretary. (2) Subject to this section, the offices of presiding officer, treasurer and secretary must be held by natural persons who are members of the corporation. (3) In the case of a community scheme— (a) comprising ten community lots or less—two or all of those offices may be held by one person; (b) comprising eleven or more community lots—two of those offices may be held by one person. (4) A person for the time being appointed by a body corporate that is a member of a corporation to attend and vote at meetings of the corporation is a member of the corporation for the purposes of subsection (2). (5) If the community parcel is subject to a leaseback arrangement the corporation may appoint a person, or persons (who need not be a member, or members, of the corporation), nominated by the lessee to hold one, two or all of the offices of presiding officer, treasurer and secretary. (6) The presiding officer, treasurer and secretary must be appointed for a term that expires at or before the next annual general meeting of the corporation. (7) The office of a person appointed under this section becomes vacant if he or she— (a) dies; or (b) completes his or her term of office and is not reappointed; or (c) in the case of a person who was a member of the corporation when he or she was appointed to the office—ceases to be a member of the corporation; or (d) in the case of a person appointed by a body corporate that is a member of the corporation to attend and vote at meetings—ceases to hold that appointment; or (e) resigns by written notice to the secretary or, in the case of the secretary, to the presiding officer; or (f) becomes bankrupt or applies to take the benefit of a law for the relief of insolvent debtors; or (g) is convicted of an indictable offence or sentenced to imprisonment for an offence; or (h) is removed from office by special resolution of the corporation. (8) A resolution referred to in subsection (7)(h) can only be passed on one or more of the following grounds— (a) misconduct; (b) neglect of duty; (c) incapacity or failure to carry out satisfactorily the duties of the office. (9) A community corporation may appoint or engage a person to assist the presiding officer, treasurer or secretary. 77—Corporation's monetary liabilities guaranteed by members (1) Subject to subsection (3), if a community corporation defaults in payment of a monetary liability, the liability is enforceable against the members of the corporation jointly and severally. (2) The members have a right of contribution amongst themselves in proportion to the lot entitlements of their lots. (3) If the liability was incurred when the community parcel was subject to a leaseback arrangement and was not authorised by an ordinary resolution of the corporation (or by a special or unanimous resolution where required by some other provision of this Act), the liability is enforceable against the lessee but not against the members of the corporation. 78—Non-application of Corporations Act 2001 The following matters are declared to be excluded matters for the purposes of section 5F of the Corporations Act 2001 of the Commonwealth in relation to the whole of the Corporations legislation to which Part 1.1A of that Act applies: (a) a community corporation; (b) any act or omission of any person, body or other entity in relation to a community corporation.