Queensland Consolidated Acts

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BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 96

Body corporate must not carry on business

96 Body corporate must not carry on business

(1) A body corporate must not carry on a business.
Examples—
A body corporate must not carry on business as—
• a letting agent
• a tour operator
• a restaurant business
• a real estate developer
• a land trader.
(2) However, the body corporate may—
(a) engage in business activities to the extent necessary for properly carrying out its functions; and
(b) invest amounts not immediately required for its purposes in the way a trustee may invest trust funds.
Examples for subsection (2)(a)—
1 leasing part of the common property
2 selling body corporate assets no longer required for the scheme



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