New South Wales Consolidated Regulations

PROPERTY AND STOCK AGENTS REGULATION 2022 - REG 42

42 Contents of record to be prepared by strata managing agent

(1) Each record required to be prepared by a strata managing agent under section 41 must--

(a) state the name and address of the owners corporation or association for whom the record is prepared, and

(b) specify the period in relation to which the record is prepared, and

(c) state the date of the record, and

(d) if the record is required because of the termination of an agency agreement--reconcile all receipts and payments with the statements from the relevant authorised deposit-taking institution up to the time of termination.

(2) Each record must also contain the following particulars for each fund of the owners corporation or association to which the record relates, for the period to which it relates--

(a) the amount of contribution to the fund levied for each lot in the scheme,

(b) the amount of contribution to the fund paid in relation to each lot,

(c) the amount of contribution to the fund levied in relation to each lot but not paid as at the date of the record,

(d) the amount of money received into the fund otherwise than as a contribution and a description of the sources of the money,

(e) the amount of money--

(i) actually expended from the fund on behalf of the owners corporation or association, and

(ii) due to be paid from the fund but not actually paid as at the date of the record,

(f) the amount of money expected to become due and payable from the fund by the owners corporation or association before the next record is prepared,

(g) the amount of money standing to the credit of the fund in an authorised deposit-taking institution and the name of the account at the authorised deposit-taking institution,

(h) the amount of money standing to the credit of the fund invested other than in an authorised deposit-taking institution and, if so, where it is invested,

(i) the total amount of money standing to the credit of the fund.