7Functions strata managing agents and assistant strata managing agents may exercise—the Act, s 10A

#### 7 Functions strata managing agents and assistant strata managing agents may exercise—the Act, s 10A 7 Functions strata managing agents and assistant strata managing agents may exercise—the Act, s 10A > > (1) A strata managing agent who holds a class 1 or class 2 licence may exercise all strata managing agent functions. > > > (2) Despite subsection (1), a strata managing agent may not authorise the withdrawal of money from a trust account unless the strata managing agent is the licensee in charge of the business to which the trust account relates. > > > (3) An assistant strata managing agent may exercise all strata managing agent functions, but may not in the person’s capacity as an assistant strata managing agent— > > > > > (a) enter into an agency agreement or a franchising agreement, or > > > > > (b) authorise the withdrawal of money from a trust account, or > > > > > (c) affix the seal of the owners corporation. > > > (4) In this section— > > > > strata managing agent functions means the functions referred to in the Act, section 3B(1), definition of strata managing agent.