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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.