Victorian Current Acts

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OWNERS CORPORATIONS ACT 2006 - SECT 25

Power to borrow money

    (1)     An owners corporation may borrow money—

S. 25(1)(a) amended by No. 2/2008 s. 12(2).

        (a)     by ordinary resolution, if the amount borrowed does not exceed the amount of the current annual fees of the owners corporation set under section 23 ; or

        (b)     by special resolution in any other case.

    (2)     An owners corporation may repay money borrowed.


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