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Lot entitlements (lightbox)

Contribution Schedule
LotEntitlements
1 in SP12345 1
2 in SP12345 1
3 in SP12345 1
4 in SP12345 1
5 in SP12345 1
6 in SP12345 1
7 in SP12345 1
8 in SP12345 1
Total lots: 8 Aggregate: 8
Interest Schedule
Lot Entitlements
1 in SP12345 1
2 in SP12345 1
3 in SP12345 1
4 in SP12345 2
5 in SP12345 2
6 in SP12345 3
7 in SP12345 3
8 in SP12345 3
Total lots: 8 Aggregate: 16
Authorisation for spending by committee

Relevant limits

For committee spending

  • the amount last set as the relevant limit for committee spending by ordinary resolution of the body corporate at a general meeting or
  • $200 x the number of lots in the scheme.

For major spending

  • the amount last set as the relevant limit for major spending by ordinary resolution of the body corporate at a general meeting, or the lesser of $1,100 x the number of lots in the scheme; or $10,000.

Basic improvement limits

  • $300 x the number of lots in the scheme (subject to the committee spending limit).

Ordinary resolution improvement range

  • an amount that is more than the basic improvement limit and less than $2,000 x the number of lots in the scheme (may only be approved once per financial year).

An amount over the ordinary resolution improvement range

Special resolution.

Please note, this flow chart is a basic guide, and the legislation should be referred to as the primary reference.
Authorisation for spending at a general meeting

Relevant limits

For committee spending
  • the amount last set as the relevant limit for committee spending by ordinary resolution of the body corporate at a general meeting or
  • $200 x the number of lots in the scheme.
For major spending
  • the amount last set as the relevant limit for major spending by ordinary resolution of the body corporate at a general meeting, or the lesser of $1,100 x the number of lots in the scheme; or $10,000.
Basic improvement limits
  • $300 x the number of lots in the scheme (subject to the committee spending limit).
Ordinary resolution improvement range
  • an amount that is more than the basic improvement limit and less than $2,000 x the number of lots in the scheme (may only be approved once per financial year).
An amount over the ordinary resolution improvement range
  • Special resolution.
Please note, this flow chart is a basic guide, and the legislation should be referred to as the primary reference
Last updated:
7 February 2018
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