41Records to be prepared by strata managing agent

#### 41 Records to be prepared by strata managing agent 41 Records to be prepared by strata managing agent > > (1) This section applies to a strata managing agent who holds or ceases to hold the money in an administrative fund, or a capital works fund, established by— > > > > > (a) an owners corporation under the [Strata Schemes Management Act 2015](/view/html/inforce/current/act-2015-050), Part 5, Division 1, or > > > > > (b) an association under the [Community Land Management Act 2021](/view/html/inforce/current/act-2021-007), Part 5, Division 1. > > > (2) The agent must prepare and sign a record relating to the management of each fund during the period since the agent— > > > > > (a) last started acting as managing agent for the owners corporation or association, or > > > > > (b) last prepared a record under this section for the owners corporation or association. > > > (3) A copy of each record must be provided to the treasurer of the owners corporation or association at the following times— > > > > > (a) if the agent ceases to act as managing agent for the owners corporation or association—within 14 days after termination of the agency agreement, > > > > > (b) otherwise—at least once in every 3 month period. > > > (4) Each record, other than a record resulting from the termination of an agency agreement, must be completed no earlier than 1 month before a copy is provided to the treasurer. > > Maximum penalty— > > > (a) for a corporation—40 penalty units, or > > > (b) otherwise—20 penalty units.