The committee on behalf of the Body Corporate is empowered to maintain the common property by organising maintenance and minor improvements and also authorise payment for regular services through-out the course of a year.
However owners may approve at a General Meeting an amount or a ‘Relevant Limit’ that the committee may spend.
The ‘Relevant Limit’ for committee spending, can be an amount approved by owners, however if no amount is set, then the amount which can be spent by the committee (outside of a General Meeting) is stated under the Regulation Module.
a.For owners to set a ‘Relevant Limit‘, the amount is voted on at an Annual General Meeting or an Extraordinary Meeting
and is set by a simple majority vote (Ordinary Resolution).
b. If there is no amount decided on by the owners, then the ‘Relevant Limit’ is calculated by multiplying the number of lots in the scheme by the amount stated under the Regulation Module. (Note: not by multiplying the lot entitlements)