South Australian Current Acts South Australian Current Acts139—Information to be provided by corporation
(1) A community
corporation must, on application by or on behalf of the owner or prospective
owner or the registered mortgagee or prospective mortgagee of a community lot
or a development lot, within 5 business days after the making of the
application—
(a)
provide a statement setting out—
(i)
particulars of any contribution payable in relation to
the lot (including details of any arrears of contributions in relation to the
lot); and
(ii)
particulars of the assets and liabilities of the
corporation; and
(iii)
particulars of any expenditure that the corporation has
incurred, or has resolved to incur, and to which the owner of the lot must
contribute, or is likely to be required to contribute; and
(iv)
particulars in relation to any other matter prescribed by
regulation; and
(b)
provide copies of—
(i)
the minutes of general meetings of the corporation and
meetings of its management committee (if any) for such period, not exceeding
two years, specified in the application; and
(ii)
the statement of accounts of the corporation last
prepared by the corporation; and
(iii)
current policies of insurance taken out by the
corporation; and
(c) make
available for inspection such information as is required to establish the
current financial position of the corporation including—
(i)
a copy of the accounting records of the corporation; and
(ii)
the minute books of the corporation; and
(iii)
any other documentary material prescribed by regulation;
and
(d) if
the community corporation is a party to a contract with a body
corporate manager—make available for inspection a copy of the contract;
and
(e) make
available for inspection the register maintained under section 135.
Maximum penalty: $500.
(1a) A community
corporation must, on application by an owner of a community lot or a
development lot provide the applicant, on a quarterly basis, with ADI
statements for all accounts maintained by the corporation (and must continue
to so provide the statements until the applicant ceases to be an owner or
revokes the application).
Maximum penalty: $500.
(1b)
Subsection (1a) does not apply to a community corporation if a
body corporate manager maintains the accounts on behalf of the corporation.
(2) An application
under this section must be accompanied by the fee prescribed by regulation.
(3) A
community corporation must not charge more than the fee prescribed by
regulation in respect of a service provided in pursuance of an application
under this section.
Maximum penalty: $500.
(4) The application is
duly made if given or sent to—
(a) the
secretary of the community corporation;
(b) if
the community corporation has a management committee—any member of the
management committee.
(5) A person to whom a
statement of a community corporation is provided under subsection (1)(a)
may, as against the corporation, rely on the statement as conclusive evidence
(as at the date of the statement) of the matters contained in the statement.