Australian Capital Territory Current Acts Australian Capital Territory Current Acts(1) An owners corporation for a units plan may determine a contribution (a sinking fund contribution ) required from its members for the corporation's sinking fund.
(2) The sinking fund contribution payable for each unit for a financial year is—
(a) the proportional share for the unit of the total sinking fund contribution for the financial year; or
(b) a proportion of the total sinking fund contribution worked out using a method set out by special resolution.
Note Total sinking fund contribution , for a
financial year—
see s 82 (3) (b). Expected sinking fund expenditure
—see s 83.
(3) A resolution under subsection (2) (b)—
(a) must be fair, taking into account—
(i) the structure of the unit plan; and
(ii) the nature of the buildings that are part of the units or common property of the unit plan, including the features and character of the units and common property; and
(iii) the purposes for which units are used, including the likely impact of that use on the common property; and
(iv) the extent to which the change imposes a burden on a unit that is commensurate with the use of that unit; and
(b) may provide that only stated unit owners, or unit owners in a stated class, are required to pay a particular contribution, or a contribution of a particular kind.
(4) A resolution under subsection (2) (b) may only be amended or revoked by—
(a) a special resolution; or
(b) an order of the ACAT.
Note 1 A unit owner may apply to the ACAT for review of a special resolution under subsection (2) (b) about a method for working out sinking fund contributions (see s 127).
Note 2 A special resolution is taken to be an alternative rule of the owners corporation (see s 108 (5)).