116Powers to deal with property

116 Powers to deal with property

116 Powers to deal with property

(1) An owners corporation may dispose of or otherwise deal with any lot vested in the owners corporation as a result of a subdivision effected under section 13 of the Strata Schemes Development Act 2015.

(2) The owners corporation may acquire or dispose of personal property or otherwise deal with personal property of the owners corporation.

(3) Section 50 (1) (d) of the Interpretation Act 1987 does not apply to an owners corporation.

Note.

Section 50 (1) (d) of the Interpretation Act 1987 provides that a statutory corporation may, for the purpose of enabling it to exercise its functions, purchase, exchange, take on lease, hold, dispose of and otherwise deal with property.