Australian Capital Territory Current Acts

UNIT TITLES (MANAGEMENT) ACT 2011 - SECT 133

    (1)     The owners corporation for a units plan may end a financed service contract only if—

        (a)     the corporation gives the financier written notice that the corporation has the right to end the contract; and

        (b)     when the notice is given to the financier, the corporation has the right to end the contract; and

        (c)     the corporation gives the notice to the financier not less than 21 days before the day the contract is ended.

    (2)     However, the owners corporation may not end the financed service contract if, under an arrangement between the financier and the service contractor, the financier has given the corporation notice under section 134.

    (3)     Subsection (2) does not stop the owners corporation ending a service contract for something done or not done after the financier started to act under the contract.

    (4)     This section does not stop a financed service contract ending by agreement between the owners corporation, service contractor and financier.