(1) A strata company shall ¾

(a) enforce the by-laws;

(b) control and manage the common property for the benefit of all the proprietors;

(c) keep in good and serviceable repair, properly maintain and, where necessary, renew and replace ¾

(i) the common property, including the fittings, fixtures and lifts used in connection with the common property; and

(ii) any personal property vested in the strata company,

and to do so whether damage or deterioration arises from fair wear and tear, inherent defect or any other cause;

[(d) deleted]

(e) cause to be recorded in a loose-leaf or bound book particulars of the purport of notices served on the strata company under this or any other Act, orders under Part VI served on the strata company and orders made by a court and served on the strata company and, in relation to each such notice or order ¾

(i) the date on which it was served and the manner of service;

(ii) the part of the parcel to which it relates;

(iii) the date by which compliance therewith is required; and

(iv) the date on which it is complied with;

(f) cause to be kept minutes of its meetings, which shall include particulars of motions passed at those meetings, and proper books of account in respect of moneys received or expended by the strata company showing the items in respect of which the moneys were received or expended;

(g) cause to be prepared from the books of account referred to in paragraph (f), a proper statement of accounts of the strata company in respect of each period commencing on the date of registration of the strata/survey-strata plan or the date up to which the last previous such statement was prepared and ending on a date not earlier than 2 months before each annual general meeting;

(h) cause to be retained for the prescribed period ¾

(i) the records kept under, and the notices and orders referred to in, paragraph (e);

(ii) the minutes and books of account referred to in paragraph (f);

(iii) the statements of account referred to in paragraph (g);

(iv) copies of correspondence received and sent by the strata company;

(v) notices of meetings of the strata company and its council;

(vi) proxies delivered to the strata company;

(vii) voting papers relating to motions for resolutions by the strata company and to the election of office holders and the council;

(viii) records of unanimous and special resolutions passed by proprietors; and

(ix) such other documents as may be prescribed;

(i) cause to be continuously available and suitably placed on the parcel a receptacle suitable for purposes of postal delivery with the name of the strata company clearly shown on it;

(j) effect insurance in accordance with Division 4; and

(k) comply with notices and orders of any competent public authority or local government requiring repairs to or work to be done in respect of the parcel or building, or anything in, on or over it.

(2) A strata company that contravenes subsection (1) (e) or (f) commits an offence and is liable to a fine not exceeding $400.

[Section 35 amended by No. 58 of 1995 ss.37, 94 and 95; No. 14 of 1996 s.4.]