Strata Management Act 2013 · s 66

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s 66Maintenance account of subsidiary management corporation

(1)

A subsidiary management corporation shall open and maintain a maintenance account with a bank or financial institution, into which shall be deposited all Charges paid by the proprietors constituting the subsidiary management corporation.

(2)

The maintenance account shall consist of the moneys specified in subsection 50(2) and may be used only for the purposes specified in subsection 50(3).

Sinking fund account of subsidiary management corporation