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Unit Titles (Management) Act 2011
88Sinking fund—what can fund be used for?
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88 Sinking fund—what can fund be used for?
An owners corporation for a units plan may only make payments from
its sinking fund if the payments are consistent with the sinking fund
plan.
Note 1 An owners corporation may at any time, by ordinary resolution, amend
its sinking fund plan to ensure that the plan reflects expected sinking fund
expenditure and the total sinking fund contributions are sufficient to meet
the expected sinking fund expenditure stated in the plan.
Note 2 Expenditure from the sinking fund for the purpose of installing
sustainability or utility infrastructure must be provided for in the sinking
fund plan (see s 23).