South Australian Current Acts South Australian Current Acts (1) A delegate of a
strata corporation who has a direct or indirect pecuniary interest in a matter
in relation to which he or she proposes to perform delegated functions or
powers must disclose the nature of the interest, in writing, to the
corporation before performing the functions or powers.
Penalty: Division 4 fine.
Example—
For example, if the delegate would receive a commission from a person for
placing business of the strata corporation with that person, it would be an
offence to fail to disclose that fact before placing business with the person.
Similarly, if the delegate were to profit by placing business of the strata
corporation with a related body corporate, it would be an offence to fail to
disclose that fact before placing business with the related body corporate.
(2) If an employee or
agent of a delegate has a direct or indirect pecuniary interest in a matter,
the delegate is, for the purposes of subsection (1), taken to have a
direct or indirect pecuniary interest in the matter.
(3) A delegate who is
a unit holder is not obliged by subsection (1) to disclose an interest
that he or she has in common with all of the unit holders.
(4) It is a defence to
a charge of an offence against subsection (1) for the defendant to prove that
he or she did not know and could not reasonably have been expected to know of
his or her interest in the matter.
(5) A delegate of a
strata corporation must, on application by a unit holder, provide the
applicant, on a quarterly basis, with a statement setting out details of
dealings by the delegate with the corporation's money (and must continue to so
provide the statements until the applicant ceases to be a unit holder or
revokes the application).
Maximum penalty: $500.
(6) If all delegations
by a strata corporation to a delegate are revoked, the delegate must return
to, or make available for collection by, the corporation—
(a) all
records of the corporation held by the delegate; and
(b) all
trust money held pursuant to the delegations,
in accordance with any requirements prescribed by the regulations.
Penalty: Division 7 fine.
(7) A delegate of a
strata corporation who holds records of the corporation must, at the request
of any unit holder—
(a) make
those records available for the unit holder to inspect within 10 business
days of the request; and
(b)
provide the unit holder with a copy of any of the records on payment of a fee
(not exceeding a fee calculated in accordance with the regulations).
Penalty: Division 9 fine.