73Administrative fund

#### 73 Administrative fund 73 Administrative fund > > (1) Establishment of fund An owners corporation must establish an administrative fund. > > > (2) Amounts payable to fund An owners corporation must pay the following amounts into the administrative fund— > > > > > (a) the contributions levied on, and paid by, owners for payment into the fund, > > > > > (b) the proceeds of the disposal of any personal property of the owners corporation, > > > > > (c) any fees paid to the owners corporation for inspection of its records and the provision of information and certificates relating to its records, > > > > > (d) any monetary penalty payable to the owners corporation under this Act, > > > > > (e) the proceeds of any investment of the fund. > > > (3) An owners corporation may also pay the following amounts into the administrative fund— > > > > > (a) any amounts paid to the owners corporation by way of discharge of insurance claims, > > > > > (b) any income of the owners corporation (other than proceeds of any investment of the capital works fund), > > > > > (c) any amount that may be, but is not required to be, paid into the fund under this Act. > > > (4) Amounts payable from fund An owners corporation may pay money from its administrative fund only for the following purposes— > > > > > (a) payments of the kind for which estimates have been made under section 79 (1), > > > > > (b) payments made in accordance with this Division on a distribution of a surplus in the fund, > > > > > (c) payments to a member of the strata committee of the owners corporation in accordance with this Act, > > > > > (d) other payments in connection with exercising its functions under this Act or the by-laws, or the [Strata Schemes Development Act 2015](/view/html/inforce/current/act-2015-051), except payments that are permitted to be made from the capital works fund, > > > > > (e) any monetary penalty payable by the owners corporation under this Act, > > > > > (f) the transfer of money to the capital works fund or to pay expenditure that should have been paid from the capital works fund.