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 36-39: Maintenance plan for tier one and tier two owners corporations

What does 36-39 require?

A tier one or tier two owners corporation must prepare and approve a maintenance plan for the property it is responsible for (tiers three to five may). The plan must set out the major capital items anticipated to need repair or replacement within the next ten years, their present condition, when they will need repair or replacement, the estimated cost, the expected life once repaired or replaced and any prescribed information (regulation 7 prescribes the items). A plan has no effect until approved by the owners corporation, which may set conditions for payments out of the maintenance fund, and the corporation must report to each annual general meeting on implementation of the approved plan.

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.