96Security for unpaid amounts—declaration of charge

96 Security for unpaid amounts—declaration of charge (1) If an amount owing to the owners corporation is unpaid after it becomes payable, the corporation may declare that a charge is to be imposed over the lease of the unit to secure payment of the amount. (2) The declaration must— (a) give details of the lease of the unit to be charged; and (b) state the unpaid amount owing to the owners corporation. Powers in relation to money owing to owners corporation Division 5.3 (3) After making the declaration, the owners corporation must— (a) lodge with the registrar-general a copy of the declaration, certified as a true copy by the executive committee; and (b) give a copy of the declaration to the unit owner and anyone else who has an interest in the unit. (4) On registration of the copy of the declaration, the amount stated in the declaration, together with interest on the amount under section 94, is a charge over the lease of the unit. (5) A registered charge under this section does not give a power of sale over the lease of the unit.