› Flat Chat Strata Forum › NCAT – the NSW Tribunal › order by adjuciator › Current Page
@Whale said:
There are existing restrictions imposed by the provisions of Pt 4 of the NSW Strata Schemes Management Regulation (2010) with regard to legal expenditure and to the need to obtain quotations, and the NSW Strata Schemes Management Act (1996) imposes restrictions on E/C’s of Schemes >100 lots spending >10% in excess of any budgeted amount, and additionally requires that the Agenda of every AGM of an Owners Corporation (O/C) must include an item to resolve “….if any matter or type of matter is to be determined only by the Owners Corporation in General Meeting.”
I understand legal advise is limited which is sensible.
But for other spending are you saying the EC can only spend money that is budgeted for in the Admin fund. When we approve the budget in QLD we are authorizing the SM to spend up to each item in the admin fund without futher approval.
BUT in QLD the EC can authorize other spending from either the admin or sinking fund up to a limit of $200 x No of lots without OC approval. The only requirement is that they inform the OC of the results of the motion and 50% don’t object within 7 days of being informed of the spending.
I’m getting very confused about how it works in NSW.