Australian Capital Territory Current Acts Australian Capital Territory Current Acts(1) An owners corporation must not carry on business except in the exercise of its functions.
Note The earning of income from the operation of sustainability infrastructure by an owners corporation does not amount to carrying on business if the income is used to pay certain costs (see 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.