New South Wales Consolidated Acts

STRATA SCHEMES MANAGEMENT ACT 2015 - SECT 9

9 Owners corporation responsible for management of strata scheme

(1) The owners corporation for a strata scheme has the principal responsibility for the management of the scheme.

(2) The owners corporation has, for the benefit of the owners of lots in the strata scheme--

(a) the management and control of the use of the common property of the strata scheme, and

(b) the administration of the strata scheme.

(3) The owners corporation has responsibility for the following--

(a) managing the finances of the strata scheme (see Part 5),

(b) keeping accounts and records for the strata scheme (see Parts 5 and 10),

(c) maintaining and repairing the common property of the strata scheme (see Part 6),

(d) taking out insurance for the strata scheme (see Part 9).