71Owners corporation must not carry on business

71 Owners corporation must not carry on business (1) An owners corporation must not carry on business except in the exercise of its functions. Note An owners corporation that receives income from subletting the common property or operating sustainability infrastructure is not carrying on business (see s 20 (5) and s 23 (4)). (2) If an owners corporation contravenes subsection (1), each executive member of the corporation at the time of the breach commits an offence. Maximum penalty: 50 penalty units. (3) It is a defence to a prosecution for an offence against subsection (2) if the defendant proves that— (a) the defendant took reasonable steps to ensure that the contravention did not happen; or (b) the contravention happened without the defendant’s knowledge. Division 5.2 Administrative, special purpose and sinking funds