Western Australian Current Acts

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37 .         Powers of strata company

        (1)         A strata company may —

            (a)         purchase, hire or otherwise acquire personal property for use by proprietors in connection with their enjoyment of the common property or for use by the strata company in the performance of its functions; and

            (b)         sell or otherwise dispose of personal property owned by it; and

            (c)         borrow moneys required by it in the performance of its functions; and

            (d)         secure the repayment of moneys borrowed by it, and the payment of interest thereon, by negotiable instrument, or mortgage of unpaid contributions (whether imposed or not), or mortgage of any property vested in it, or by a combination of those means; and

            (e)         invest any moneys in its administrative fund or reserve fund in any manner permitted by law for the investment of trust funds or in any investment prescribed; and

            (f)         where the strata company considers it necessary, effect a compromise of any action for the recovery of money due to the strata company; and

            (g)         make an agreement with any proprietor or occupier of a lot for the provision of amenities or services by it to that lot or to the proprietor or occupier of that lot; and

            (h)         accept or acquire a lease, licence or permit for the purpose of providing moorings or landings for vessels.

        (2)         Any interest received on an investment made under subsection (1) shall form part of the fund to which the investment belongs.

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