17FDuty—disclosures about contracts—the Act, s 70A(3)

17F Duty—disclosures about contracts—the Act, s 70A(3)

17F Duty—disclosures about contracts—the Act, s 70A(3)

A building manager for a strata scheme, when proposing a contract for the purchase of goods or services to the owners corporation, must give written notice to the owners corporation about—

(a) if the building manager may receive a benefit in relation to the proposed contract—

(i) the person who will provide the benefit, and

(ii) the monetary value of the benefit or the method of calculating the monetary value, and

(b) if the person seeking to enter into the contract with the owners corporation is connected with the building manager—the nature of the relationship between the building manager and the person.

cl 17F: Ins 2025 (505), Sch 1[2].