› Flat Chat Strata Forum › Finance, budgeting and loans › What can the Maintenance Fund pay for? › Current Page
08/11/2022 at 6:06 pm
#66176
A couple of points here.
The Act uses the word “estimate” – that implies it doesn’t expect a legally binding commitment to spend the amount listed on the defined item.
Also, strata schemes are largely self-policing. Take a stroll through the Act and see how many rules and regulations carry no penalties for failure to comply.
The implied punishment is when someone in the scheme complains to NCAT, seeking orders to compel the owners corp to obey the law or face removal and replacement by a compulsory manager.
There are no StrataKops.