Mixed Use Development Act 1993
sec.176Miscellaneous powers of bodies corporate
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sec.176 Miscellaneous powers of bodies corporate
A body corporate may— invest amounts held by it in— a way permitted by law for the investment of trust funds; or an investment prescribed by regulation; and borrow amounts, and secure the repayment of amounts and the payment of any interest in a way that is agreed between the body corporate and the lender; and enter into an agreement for the provision of amenities or services by it or another person to— a lot; or the proprietor or occupier of a lot; or a parcel comprised in a building units or a group titles plan; and if the body corporate is a community body corporate—enter into an agreement with a precinct body corporate for the provision of amenities or services by the community body corporate or another person to— a lot within a staged use precinct; or the proprietor or occupier of a lot within a staged use precinct; or a parcel comprised in a building units or a group titles plan; and acquire and hold any personal property to facilitate the carrying out of its functions.
- (a) invest amounts held by it in— (i) a way permitted by law for the investment of trust funds; or (ii) an investment prescribed by regulation; and
- (i) a way permitted by law for the investment of trust funds; or
- (ii) an investment prescribed by regulation; and
- (b) borrow amounts, and secure the repayment of amounts and the payment of any interest in a way that is agreed between the body corporate and the lender; and
- (c) enter into an agreement for the provision of amenities or services by it or another person to— (i) a lot; or (ii) the proprietor or occupier of a lot; or (iii) a parcel comprised in a building units or a group titles plan; and
- (i) a lot; or
- (ii) the proprietor or occupier of a lot; or
- (iii) a parcel comprised in a building units or a group titles plan; and
- (d) if the body corporate is a community body corporate—enter into an agreement with a precinct body corporate for the provision of amenities or services by the community body corporate or another person to— (i) a lot within a staged use precinct; or (ii) the proprietor or occupier of a lot within a staged use precinct; or (iii) a parcel comprised in a building units or a group titles plan; and
- (i) a lot within a staged use precinct; or
- (ii) the proprietor or occupier of a lot within a staged use precinct; or
- (iii) a parcel comprised in a building units or a group titles plan; and
- (e) acquire and hold any personal property to facilitate the carrying out of its functions.
- (i) a way permitted by law for the investment of trust funds; or
- (ii) an investment prescribed by regulation; and