43Executive committee—treasurer’s functions

43 Executive committee—treasurer’s functions The functions of the treasurer are— (a) on behalf of the owners corporation, to give to each unit owner notice of— (i) a determination of general fund contributions under section 78 (1); and (ii) a determination of sinking fund contributions under section 89 (1); and (b) on behalf of the owners corporation— (i) to pay all amounts the corporation receives into the corporation’s account in accordance with section 68 (1) (b); or (ii) if the owners corporation is exempt from section 68 (1)— to receive, acknowledge receipt of, and account for amounts paid to the corporation; and Note An owners corporation for a units plan with only 2 or 3 units may, by unopposed resolution, exempt itself from s 68 (1) (see s 68 (2)). (c) on behalf of the owners corporation, to pay amounts the corporation spends out of the corporation’s account, in accordance with section 68 (1) (c), as authorised by the executive committee; and (d) on behalf of the executive committee, to keep the records (the records) mentioned in schedule 2, section 2.1 (1) (f); and (e) if the owners corporation requires the records to be audited—to arrange for the records to be audited by a qualified auditor; and (f) to give financial reports to meetings of the executive committee to allow the committee to monitor the financial performance of the owners corporation; and (g) to prepare and certify the annual financial statements mentioned in schedule 2, section 2.2 (1).