Queensland Consolidated Acts

BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 96

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