Div 2General functions, powers and duties

Division 2—General functions, powers and duties 25—Functions The functions of the strata corporation are as follows: (a) to administer and maintain the common property for the benefit of the unit holders and, to such extent as may be appropriate, other members of the strata community; and (b) to administer all other property of the corporation; and (c) to enforce the articles of the corporation. 26—General powers (1) For the purpose of carrying out its functions, a strata corporation may— (a) acquire, deal with and dispose of real and personal property (including an interest in a unit) and rights in relation to real and personal property; (b) borrow money and obtain other forms of financial accommodation; (c) open and maintain accounts at ADIs; (d) invest money not immediately required for its purposes— (i) in investments in which trustees are authorised by statute to invest trust funds; or (ii) in any prescribed investment; (e) enter into any kind of contract or arrangement; (f) do anything reasonably incidental to its functions under this Act. (2) A strata corporation cannot acquire property unless— (a) the property is reasonably required for the purposes of the corporation or for the use or benefit of the strata community; (b) in the case of real property, the property is a unit within the site or is adjacent to the site. (3) A strata corporation cannot acquire, deal with or dispose of real property unless authorised by unanimous resolution of the corporation. (4) The strata corporation may, if authorised to do so by unanimous resolution of the corporation, grant to a unit holder an exclusive right to occupy part of the common property for a specified period. (5) A strata corporation may only dispose of real property that has been held as common property if the property no longer forms part of the site. (6) If a strata corporation sells real property, any money received in respect of the sale must, after paying the costs of the sale and any associated expenses, be paid into the funds of the corporation and used to meet any outstanding administrative expenses or other liabilities of the corporation and any remaining balance may then, by unanimous resolution of the corporation, be divided between the unit holders in proportion to the unit entitlements of their respective units. 26A—Delegation of functions or powers A strata corporation can only delegate its functions or powers to the extent permitted by Division 2A. 27—Power to raise money (1) A strata corporation may raise such funds (including reserve funds for future expenditure of a capital nature) as it thinks necessary. (2) For the purpose of raising funds the strata corporation may, by ordinary resolution, levy contributions against all unit holders. (3) The contributions— (a) will be proportional to the unit entitlements of the various units; or (b) will be determined on such other basis as the strata corporation decides by unanimous resolution. (4) A strata corporation may, by ordinary resolution— (a) permit contributions to be paid in instalments specified in the resolution; and (b) fix (in accordance with the regulations) interest payable in respect of a contribution, or an instalment of a contribution, that is in arrears. (5) The strata corporation may recover an unpaid contribution (and interest on any such contribution), as a debt, from the unit holder of the unit in respect of which the contribution is payable (whether or not that person was the unit holder when the liability arose). (6) If the strata corporation carries out work that wholly or substantially benefits a particular unit or group of units, the corporation may, subject to any agreement to the contrary, recover the cost of that work as a debt from the unit holder or unit holders of the unit or units. (7) Where the cost referred to in subsection (6) is recoverable from two or more unit holders, the extent of their liability will be proportioned according to the unit entitlements of their respective units. (8) An amount paid by a person under this section is not recoverable by the person from the strata corporation when he or she ceases to be a unit holder.