Basjan27 – not only can an Owners Corporation impose limits on its Executive Committee’s spending, that’s actually a mandatory motion for the Agenda of every General Meeting, where those in attendance have to resolve one way or the other. As Scotty advised, any restriction can be a monetary limit or apply to a category of expenditure such as “consultants”, or be a mixture of both.
The relevant provision is Schedule 2, Cl 34(g) of the NSW Strata Schemes Management Act (1996) that states that every Meeting Agenda MUST “include a form of motion to decide if any matter or type of matter is to be determined only by the owners corporation in general meeting”.