Body Corporate and Community Management Act 1997
sec.96Body corporate must not carry on business
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sec.96 Body corporate must not carry on business
A body corporate must not carry on a business. A body corporate must not carry on business as— a letting agent a tour operator a restaurant business a real estate developer a land trader. However, the body corporate may— engage in business activities to the extent necessary for properly carrying out its functions; and invest amounts not immediately required for its purposes in the way a trustee may invest trust funds. leasing part of the common property selling body corporate assets no longer required for the scheme (sec.96-ssec.1) A body corporate must not carry on a business. A body corporate must not carry on business as— a letting agent a tour operator a restaurant business a real estate developer a land trader. (sec.96-ssec.2) However, the body corporate may— engage in business activities to the extent necessary for properly carrying out its functions; and invest amounts not immediately required for its purposes in the way a trustee may invest trust funds. leasing part of the common property selling body corporate assets no longer required for the scheme
- • a letting agent
- • a tour operator
- • a restaurant business
- • a real estate developer
- • a land trader.
- (a) engage in business activities to the extent necessary for properly carrying out its functions; and
- (b) invest amounts not immediately required for its purposes in the way a trustee may invest trust funds.
- 1 leasing part of the common property
- 2 selling body corporate assets no longer required for the scheme