Just thought I'd add to the confsuion …the following section of the Strata Act says this:
110 What powers does an owners corporation have to borrow money and otherwise deal with property?
(2) An owners corporation may dispose of or otherwise deal with any lot vested in the owners corporation as a result of a subdivision effected under section 9 of the Strata Schemes (Freehold Development) Act 1973 or section 11 of the Strata Schemes (Leasehold Development) Act 1986.
(3) Section 50 (1) (d) of the Interpretation Act 1987does not apply to an owners corporation.
Note. Section 50 (1) (d) of the Interpretation Act 1987 provides that a statutory corporation may, for the purpose of enabling it to exercise its functions, purchase, exchange, take on lease, hold, dispose of and otherwise deal with property.
I'm not a lawyer – if I were, I might understand why these two clauses seem to be contradictory. Anyone got any ideas?