Under the Subdivision Act 1988, when a Plan of Subdivision is registered and common property is created, an Owners Corporation (“OC”) is deemed to exist.
The OC is the lot holders and under the Owners Corporations Act 2006 and Owners Corporations Regulations 2007, the OC has the primary functions to manage and administer common property, repair & maintain the common property & associated services and to take out, maintain and pay premiums on building reinstatement insurance and public liability insurance.
An OC sets both a budget & fees to fulfil the required functions of the OC.
Owners Coroporation and Committee Documents menus can be accessed from within the Owners Corporation menu at the top of the screen or by clicking the links below: