Topic: Does OC Need to Give Permission for Strata Finance? – FLAT CHAT

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22/03/2015 at 9:13 pm #9962 Reply | Quote
nyonyakay
Flatchatter
Basically, the strata plan I am in is pretty broke. I hear whispers of big special levies coming, or ….. the possibility that they may quietly borrow money and just raise levies to service the loan repayments.

In NSW, can the EC just quietly borrow the money to avoid the pain and hassle of a special levy through EGM? Or are they required by law to get OC permission to borrow money to top up the admin and sinking funds?
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Reply To: Does OC Need to Give Permission for Strata Finance?

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