(1) This section
applies to a person who is —
(a) a
member of the council of a strata company (including when acting as an officer
of the strata company); or
(b) an
individual authorised under section 136(2) by a corporation to perform the
corporation’s functions as a member of the council, or an officer, of a
strata company.
(2) A person to whom
this section applies —
(a) must
at all times act honestly, with loyalty and in good faith in the performance
of functions as a member of the council or an officer of the strata company;
and
(b) must
at all times exercise the degree of care and diligence in the performance of
those functions that a reasonable person in the person’s position and
the circumstances of the strata company would reasonably be expected to
exercise; and
(c) must
not make improper use of the person’s position —
(i)
to gain, directly or indirectly, an advantage for the
person or any other person; or
(ii)
to cause detriment to the strata company.
(3) A person to whom
this section applies —
(a) must
inform the council in writing of any direct or indirect pecuniary or other
interest that the person has that conflicts or may conflict with the
performance of a function as a member of the council or, if applicable, as an
officer of the strata company; and
(b) must
do so as soon as is practicable after the person becomes aware of the relevant
facts; and
(c) in
the case of a member of the council, must not vote on a matter in which the
member has an interest required to be disclosed under paragraph (a).
(4) Subsection (3)
does not apply to an interest arising solely from the fact that the member is
the owner of a lot in the scheme.
[Section 137 inserted: No. 30 of 2018 s. 83.]
[Heading inserted: No. 30 of 2018 s. 83.]