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Unit Titles (Management) Act 2011
70Owners corporation may borrow
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70 Owners corporation may borrow An owners corporation may, if authorised by a special resolution, do 1 or more of the following: (a) borrow amounts required for the exercise of its functions;
(b) secure the repayment of amounts borrowed by it and the payment of interest on amounts borrowed by it. Note Section 20 (2) prevents the owners corporation from taking out a mortgage over the lease in the common property to secure repayment.