The key to this is whether or not the pump room and equipment is on common property or lot property.
If it has been placed on lot property (by some quirk) then the lot owner is entitled to claim compensation. The question then remains, is the amount claimed fair?
As a member of the owners corporation, you are entitled to view any documents that establish:
1. Who does the pump room belong to?
2. How did they establish the amount of compensation? Who assesses the value of the pump room?
This may be a way of correcting an error in the original strata plan. Or it may be a way of a multi-tasking committee member getting a backdoor payment for the work that they do.
Either way, it merits a polite request for the supporting paperwork, and a serious investigation if the paperwork doesn’t exist.
If there are no valid grounds for the by-law, you can seek orders invalidating it under Section 150 backdating it to its original date, and requiring the money to be repaid.