(1) The amount that
applies for the purposes of section 102(5) is the amount determined by
multiplying the number of lots in the strata titles scheme by $500.
(2) For the purposes
of section 102(5)(a), a notice of a proposed special resolution to
approve expenditure to which section 102(5) applies must be provided to
members of the strata company with the following information —
(a)
details of the proposed improvement or alteration of the common property
including the following —
(i)
a description of the proposed improvement or alteration,
with particulars of what is proposed in terms of design and materials;
(ii)
the proposed timeframe for completion of the proposed
improvement or alteration;
(iii)
particulars of the estimated cost of the work necessary
to complete the proposed improvement or alteration;
(b) a
drawing showing where the proposed improvement or alteration will occur on the
common property;
(c)
particulars of a quotation or tender obtained by the strata company for the
work necessary to complete the proposed improvement or alteration.
Note for this regulation:
Under
section 102(5), a budget or budget variation that provides for
expenditure on common property that exceeds the amount determined under this
regulation must be approved by special resolution.