Body Corporate and Community Management Act 1997
sec.127Agreements between body corporate and financier prohibited
Start here
Get a plain-English read of sec.127
Turn the raw legal text into a practical explanation grounded in Body Corporate and Community Management Act 1997.
sec.127 Agreements between body corporate and financier prohibited
A financier for a financed contract must not enter into an agreement or other arrangement with the body corporate under the contract for a matter about— the role of the financier for the contract; or arrangements entered into between the financier and contractor for the contract under which the financier is acting, or may act, under the contract in the place of the contractor; or the operation of this division in relation to the contract. An agreement or arrangement is void to the extent it contravenes this section. s 127 ins 2003 No. 6 s 47 (sec.127-ssec.1) A financier for a financed contract must not enter into an agreement or other arrangement with the body corporate under the contract for a matter about— the role of the financier for the contract; or arrangements entered into between the financier and contractor for the contract under which the financier is acting, or may act, under the contract in the place of the contractor; or the operation of this division in relation to the contract. (sec.127-ssec.2) An agreement or arrangement is void to the extent it contravenes this section.
- (a) the role of the financier for the contract; or
- (b) arrangements entered into between the financier and contractor for the contract under which the financier is acting, or may act, under the contract in the place of the contractor; or
- (c) the operation of this division in relation to the contract.