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Restrictions during the initial period

During the initial period, the owners corporation must not:

  • change or cancel the by-laws or make additional by-laws that do not give a right or obligation to all owners or all lots (however, a by-law can be made authorising an owner to park a vehicle on part of the common property if the local council has given written approval) [s. 56]
  • alter common property (except under a development contract)
  • incur a debt for more than is set aside in its funds to repay it
  • borrow money or give securities
  • appoint a strata managing agent or caretaker to continue after the first Annual General Meeting (AGM) [s. 113]
  • sell any common property.

 

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Application to the Tribunal to Alter Any Common Property »