144Misuse capital works fund amounts

144 Misuse capital works fund amounts operator uses a capital works fund amount for a purpose other than any of the following: (a) to meet the cost of capital maintenance; (b) if the residents of the village consent to a proposal that the operator distribute any part of the fund that is not required to fund capital maintenance to the residents in equal shares—to give effect to that proposal; (c) for a purpose prescribed by regulation. (3) A proposal mentioned in subsection (1) (b) may be made by the operator or the residents committee. (4) If the residents consent to a proposal made by the residents committee under subsection (1) (b), the operator may apply to the ACAT for an order that— (a) the distribution is not to be made; or (b) approves or amends the proposed distribution.

(5) In making an order under subsection (4), the ACAT may consider the (a) the proportion of the capital works fund proposed to be distributed; (b) whether the proportion of the capital works fund proposed to be distributed is reasonably likely to be required to fund capital maintenance; (c) anything else the ACAT considers appropriate.