South Australian Current Acts South Australian Current Acts75—Functions and powers of corporations
(1) The functions of a
corporation are—
(a) to
administer, manage and control the common property for the benefit of the
owners of the community lots; and
(b) to
maintain the common property and the property of the corporation in good order
and condition; and
(c)
where practicable, to establish and maintain lawns or gardens on those parts
of the common property not required or used for any other purpose; and
(d) to
enforce the by-laws and the development contracts (if any); and
(e) to
carry out the other functions assigned to it by this Act or conferred on it by
the by-laws.
(2) Subject to this
section, a community corporation has all the powers of a natural person for
the purpose of carrying out its functions as well as the powers conferred by
the other provisions of this Act.
(3) A corporation's
decision to erect a building on, or to make any other improvements to, the
common property (other than those referred to in subsection (1)(c)) must
be made by special resolution.
(4) A corporation's
power to carry on business is limited to—
(a)
activities necessary or desirable to carry out its functions; and
(b)
investment of money held by it that is not immediately required in carrying
out its functions in the same manner and subject to the same requirements as a
trustee investing trust funds under the Trustee Act 1936 ; and
(c) use
of the common property or the property of the corporation to produce income
(but only if authorised by a unanimous resolution of the corporation).
(5) A
community corporation can only delegate its functions or powers to the extent
permitted by Division 1A.