New South Wales Consolidated Acts

COMMUNITY LAND MANAGEMENT ACT 2021 - SECT 105A

105A Limits on spending by association

(1) An association must obtain at least 2 independent quotations for proposed expenditure for an item or matter that is more than the amount prescribed by the regulations for this section.

(2) If the association is not able to comply with subsection (1), the secretary of the association must add an item to the agenda of the next general meeting of the association to note--

(a) the item or matter the quotations were required for, and

(b) the reasons the association was unable to obtain more than 1 quotation.

(3) This section does not apply to expenditure for emergency purposes, including in relation to the following--

(a) burst or blocked water or sewerage pipes,

(b) serious damage caused by a storm, fire or another natural disaster,

(c) unexpected electrical or security system failures,

(d) glass breakages that affect the security of a building on association property or could result in damage to the inside of the building.

(4) In this section--

"independent quotations" means quotations from persons who are not connected with each other.