New South Wales Consolidated Acts

COMMUNITY LAND MANAGEMENT ACT 2021 - SECT 25

25 Restriction on powers of associations during initial period

An association for a scheme must not, during the initial period for the scheme, do any of the following things unless the association is authorised to do so by an order of the Tribunal under this Division--

(a) incur a debt of an amount in excess of the amount then available for repayment of the debt from the administrative fund or capital works fund,

(b) borrow money or give security for the repayment of money,

(c) make, amend or repeal an association property rights by-law,

(d) add land to the scheme, whether as association property or as a development lot or neighbourhood lot, except in accordance with the development contract (if any) for the scheme,

(e) appoint for a period extending beyond the date of the first annual general meeting of the association--

(i) a managing agent, or

(ii) a facilities manager, or

(iii) another person to assist with the management, maintenance or repair of association property.