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  • #8044

    NSW STRATA SCHEMES MANAGEMENT ACT 1996 – SECT 79

    (Interest and discounts on contributions)

    paragraph 4 reads as follows:

    “An owners corporation may, by special resolution, determine (either generally or in a particular case) that a person may pay 10 per cent less of a contribution levied if the person pays the contribution before the date on which it becomes due and payable”.

     

    I would like to know, when making the special resolution required to allow a discount:

    1. can we nominate a different percentage rate (or maybe even a set amount) of discount to be applied?

    2. can a date be set before which payments will attract the discount being offered? For example, 7 or more days before the levy due date.

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