#69945
Jimmy-T
Keymaster

    I think that this can be done as a simple budgetary measure at your AGM. If the Admin fund has spare cash, change the budget so that more money from your levies goes into the capital works fund and less into the admin fund, drawing down on the admin fund for expenses, until such times as the amounts are where you want them to be.

    If the money is required urgently, remember that 76 (2) only says the OC must decide on how the money will be repaid in 30 days – not necessarily to repay the money in 30 days (although experts are divided on this).

    Whatever you decide, no one will be going to jail over this; there are no StrataKops.

    The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.