Victorian Numbered Acts

OWNERS CORPORATIONS ACT 2006 (NO 69 OF 2006) - SECT 29

    (1)     An owners corporation may charge interest on any amount payable by a lot owner to the owners corporation that is still outstanding after the due date for payment.

    (2)     The rate of interest charged must not exceed the maximum rate of interest payable under the Penalty Interest Rates Act 1983 .

    (3)     The owners corporation may waive the payment of interest in a particular case.