Australian Capital Territory Current Acts

UNIT TITLES (MANAGEMENT) ACT 2011 - SECT 43

The functions of the treasurer are—

        (a)     on behalf of the owners corporation, to give to each unit owner notice of—

              (i)     a determination of general fund contributions under section 78 (1); and

              (ii)     a determination of sinking fund contributions under section 89 (1); and

        (b)     on behalf of the owners corporation—

              (i)     to pay all amounts the corporation receives into the corporation's account in accordance with section 68 (1) (b); or

              (ii)     if the owners corporation is exempt from section 68 (1)—to receive, acknowledge receipt of, and account for amounts paid to the corporation; and

Note     An owners corporation for a units plan with only 2 or 3 units may, by unopposed resolution, exempt itself from s 68 (1) (see s 68 (2)).

        (c)     on behalf of the owners corporation, to pay amounts the corporation spends out of the corporation's account, in accordance with section 68 (1) (c), as authorised by the executive committee; and

        (d)     on behalf of the executive committee, to keep the records (the  records ) mentioned in schedule 2, section 2.1 (1) (f); and

        (e)     if the owners corporation requires the records to be audited—to arrange for the records to be audited by a qualified auditor; and

        (f)     to give financial reports to meetings of the executive committee to allow the committee to monitor the financial performance of the owners corporation; and

        (g)     to prepare and certify the annual financial statements mentioned in schedule 2, section 2.2 (1).