Victoria Owners Corporations Act 2006
Part 3: Financial management (fees, accounts, audit, maintenance plan and fund) – Victoria Owners Corporations Act 2006

Victoria Owners Corporations Act 2006 23: Levy annual fees based on lot liability, including a maintenance-plan component

What does 23 require?

An owners corporation may set annual fees to cover general administration, maintenance and repairs, insurance and other recurrent obligations. Where it has an approved maintenance plan, the annual fees must include fees designated for the plan and sufficient to implement it. Fees are based on lot liability, except that fees for repairs, maintenance or other works carried out wholly or substantially for the benefit of some lots only are levied on the benefiting lots in proportion to the benefit. Since the amending Act No. 4/2021 commenced an owners corporation may also levy fees for the reinstatement and replacement insurance premium based on lot entitlement, and for an excess or increased premium attributable to a particular lot (section 23A).

Maintained by Gerard Blokdyk

Other controls in Part 3: Financial management (fees, accounts, audit, maintenance plan and fund) – Victoria Owners Corporations Act 2006

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The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.