127. Beware the outdated financial statement

This week, Reena and I discuss the unusual rules applicable to community schemes paying out legal fees. We also cover the “2 month” requirement when it comes to¬†financial¬†statements at AGMs, and I provide my tips on putting your best foot forward in the Tribunal.

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2 Responses

  1. Hi Stephen, this is not a penalty provision, so there is no fine payable for breach, but an ‘interested person’ (eg – lot owner) could apply to the Tribunal for an order requiring the Owners Corporation to comply with the requirement.

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