sec.147Reviewing terms of service contract

sec.147 Reviewing terms of service contract

This section applies if— the letting agent’s management rights include a service contract; and when the body corporate passes the majority resolution mentioned in section 140 , the body corporate also passes, by ordinary resolution, a motion (a review motion ) that a review advice about the service contract be obtained. Within 1 month after the review motion is passed, the body corporate must obtain the review advice from an independent appropriate person. a person who, in the ordinary course of the person’s business, has knowledge of the functions and powers of service contractors and the remuneration for performing the functions and powers The review advice must be based on the review criteria stated in section 148 . This section applies to the contract even if the contract also provides for either or both of the following— the letting agent’s engagement as a body corporate manager; the letting agent’s authorisation as a letting agent. s 147 ins 2003 No. 6 s 49 (sec.147-ssec.1) This section applies if— the letting agent’s management rights include a service contract; and when the body corporate passes the majority resolution mentioned in section 140 , the body corporate also passes, by ordinary resolution, a motion (a review motion ) that a review advice about the service contract be obtained. (sec.147-ssec.2) Within 1 month after the review motion is passed, the body corporate must obtain the review advice from an independent appropriate person. a person who, in the ordinary course of the person’s business, has knowledge of the functions and powers of service contractors and the remuneration for performing the functions and powers (sec.147-ssec.3) The review advice must be based on the review criteria stated in section 148 . (sec.147-ssec.4) This section applies to the contract even if the contract also provides for either or both of the following— the letting agent’s engagement as a body corporate manager; the letting agent’s authorisation as a letting agent.

• (a) the letting agent’s management rights include a service contract; and
• (b) when the body corporate passes the majority resolution mentioned in section 140 , the body corporate also passes, by ordinary resolution, a motion (a review motion ) that a review advice about the service contract be obtained.
• (a) the letting agent’s engagement as a body corporate manager;
• (b) the letting agent’s authorisation as a letting agent.