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  1. #1

    Default Rights of owners

    Does the bodycorp need to notify owners of changes to arrears management before enacting. Or can simply change and say we are charging you interest on the arrears now?

  2. #2
    Join Date
    Sep 2012
    Posts
    359

    Default

    It may have always been in the rules. Otherwise the committee has the power to change the rules whenever they like. Are you on the committee?

  3. #3

    Default

    s106 of UT 2010 makes it clear that rules can only be changed by ordinary resolution at a BC general meeting (not by the committee) but s128 allows for interest on unpaid levies so they already have power (probably not covered in rules as such?)

  4. #4

    Default

    Thank you I didnt know that. In the lease of memorandum it states:

    IF PAYMENT IS NOT MADE AND in default of payment thereof by the Lessee the' Lessors shall be entitled to demand interest on the amount or amounts: owing at a rate being one per cent. in excess of the average rate charged from time to time by Trading Banks on account current ,which is overdrawn
    from the date when payment should have been made but such demand shall be without prejudice to the rights of the Lessors under this
    lease PROVIDED ALWAYS that if any general rates and other levies fire insurances at other outgoings are hereafter assessed levied and
    demanded in respect of the said flat as a separate dwelling or interest in the said land then the same shall he paid by the Lessee,

    Does that mean the interest can only be charged 1% higher than the banks? Can they charge a chase up fee?

    Are the rules supposed to be issued to all owners, and not just committee members?

  5. #5

    Default

    s 128 the UT 2010 states a max of 10% for unit why are you stating lease terms? are you a unit holder? or are you leasing from an owner and responsible for levy? More information please...............................!

  6. #6

    Default

    Yes, I own the unit. Will they be able to charge me a chase fee?


 

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