Body Corporate and Community Management Act 1997
sec.42Prohibition on benefits
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sec.42 Prohibition on benefits
The body corporate must not receive, whether directly or indirectly, an amount or benefit by way of a premium for the lease. If an amount or benefit is given to or accepted by the body corporate in contravention of subsection (1) , the person who paid the amount or conferred the benefit may recover from the body corporate the amount, or the value of the benefit, as a debt. Subsection (1) does not apply to an amount or benefit representing fair market value for an entitlement conferred by the body corporate under the lease. s 42 ins 2003 No. 6 s 9 (sec.42-ssec.1) The body corporate must not receive, whether directly or indirectly, an amount or benefit by way of a premium for the lease. (sec.42-ssec.2) If an amount or benefit is given to or accepted by the body corporate in contravention of subsection (1) , the person who paid the amount or conferred the benefit may recover from the body corporate the amount, or the value of the benefit, as a debt. (sec.42-ssec.3) Subsection (1) does not apply to an amount or benefit representing fair market value for an entitlement conferred by the body corporate under the lease.