#13627
Jimmy-T
Keymaster

    Section 71 of the strata Act allows a sinking fund to lend money to the admin fiund provided it is repaid in three months.  This is a recognition that every organisation can have cash-flow problems from time to time and basically allows the money to be lent for the duration of one levies collection cycle. 

    That's one reason OCs have to keep on top of levies payments – the sinking fund is not a well you can go to too often.

    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.