Paddocks Press is a monthly free digital newsletter published to educate and update the sectional title community. The issue (Volume 9, Issue 8) has a number of articles of interest, including:
Loans to Body Corporate Staff - Anton Kelly
Can a Body Corporate Lend Money to its Employees?
Section 37 of the Sectional Title Act specifies the functions of the body corporate. However, as a body corporate what do you do when an employee asks for a loan? We at Paddocks get asked this question a number of times.
In this article Anton Kelly discusses loans to body corporate staff.
Body Corporate Functions: Insurance - Mike Addison
Are policies always in line with Sectional Title requirements?
The Sectional Titles Act regulates certain functions of the body corporate which includes aspects of building insurance. Prescribed Management Rules deal more specifically with the insurance needs and they set out the trustees’ duties in this regard.
In this article Mike Addison discusses body corporate functions focusing on insurance and whether or not policies are always in line with Sectional Title requirements.
Thinking inside the box - Blog post - Jennifer Paddock
Liability for levies when a unit changes hands
Ordinary/general levies are straightforward as they are catered for in the Sectional Titles Act. However, when it comes to special levies there is no provision in the Act that caters for a change of ownership and therefore it is not as straightforward.
This months blog post, Jennifer Paddock discusses liability for levies when a unit changes hands.
Carryn's Corner - Carryn Melissa Durham
The validity of a penalty rule and enfoceability of fine implementation
For the penalty rule to be binding on the body corporate the fine recoverable must be entrenched in the governance documentation of the scheme. This means that it needs to be contained in either the management or conduct rules.
In this article Carryn Melissa Durham discusses the validity of a penalty rule and enforceability of the fine implementation.
Paddocks Club Q and A - Paddocks Club Team