Australian Capital Territory Current Acts

UNIT TITLES (MANAGEMENT) ACT 2011 - SECT 70

An owners corporation may, if authorised by a special resolution, do 1 or more of the following:

        (a)     borrow amounts required for the exercise of its functions;

        (b)     secure the repayment of amounts borrowed by it and the payment of interest on amounts borrowed by it.

Note     Section 20 (2) prevents the owners corporation from taking out a mortgage over the lease in the common property to secure repayment.