23Owners corporation may levy annual fees

23 Owners corporation may levy annual fees

(1) An owners corporation may set annual fees to cover—

(a) general administration; and

(b) maintenance and repairs; and

(c) insurance; and

(d) other recurrent obligations of the owners corporation.

(2) If the owners corporation has an approved maintenance plan, the annual fees must include fees that are—

(a) designated for the purpose of the maintenance plan; and

(b) sufficient to allow the maintenance plan to be implemented.

S. 23(3) substituted by No. 4/2021 s. 12(2).

(3) Subject to subsection (3A), the annual fees set must be based on lot liability.

S. 23(3A) inserted by No. 78/2013 s. 3, substituted by No. 4/2021 s. 12(2).

(3A) The owners corporation may levy an additional annual fee on a lot owner if—

(a) the owners corporation has incurred additional costs arising from the particular use of the lot by the lot owner; and

(b) an annual fee set on the basis of the lot liability of the lot owner would not adequately take account of those additional costs.

S. 23(3B) inserted by No. 4/2021 s. 12(2).

(3B) Any additional annual fees under subsection (3A) must be levied on the basis that the lot owner of the lot that benefits more from the use of the lot pays more.

S. 23(4) amended by No. 4/2021 s. 12(3).

(4) The owners corporation may determine the times for payment of annual fees.

S. 23A inserted by No. 4/2021 s. 13.