Queensland Consolidated Regulations

BODY CORPORATE AND COMMUNITY MANAGEMENT (ACCOMMODATION MODULE) REGULATION 2020 - REG 159

159 Application of administrative and sinking funds [SM, s 169]

(1) The sinking fund may be applied towards—

(a) spending of a capital or non-recurrent nature; and

(b) the periodic replacement of major items of a capital nature; and

(c) other spending that should reasonably be met from capital.

(2) All other spending of the body corporate must be met from the administrative fund.

Examples—

1 The cost of repainting the common property or replacing air-conditioning plant would be paid from the sinking fund.

2 The cost of insurance would be paid from the administrative fund.