NSW: Will the New Reform Mean that Owners Corporations Will Now Raise Money to Match their 10 Year Sinking Fund Plan?
Under the current legislation there is a requirement for owners corporations “to take into account” the 10 year sinking fund plan. Many schemes do not comply with this obligation in good faith with the result that the sinking fund remains just as underfunded as it was before 10 year plans were required. Read the article………..
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