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](/view/html/inforce/current/act-2015-051). > > > (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](/view/html/inforce/current/act-1987-015) does not apply to an owners corporation. > > > > Note. > > > > Section 50 (1) (d) of the [Interpretation Act 1987](/view/html/inforce/current/act-1987-015) 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.