Document ID: chunk:federal_register_of_legislation:F2021C01045:body:0:p4
Version: federal_register_of_legislation:F2021C01045
Segment Type: other
Provision Reference: 
Character Range: 7539–10013

(i) make payments to investors (whether by way of guarantee or otherwise); or
(ii) cover or reimburse in whole or in part (whether under an indemnity or otherwise) payments that are made by any other person to investors,
in relation to the use of the strata units of investors after the operator withdraws from the scheme;
(f) an investor does not have to make payments to participate in the scheme other than:
(i) payments to buy the strata unit; and
(ii) payments to buy furniture, fittings and equipment for the strata unit where the maximum amount of the payments and the items of furniture, fittings and equipment to be acquired are set out in the agreement referred to in paragraph (h); and
(iii) payments of the investor's reasonable proportion of the operator's fees and expenses with respect to the management of the scheme where:
(A) in any 3 month period the total of such payments relates to a period of no more than 3 months and is reasonably commensurate with the work done or to be done, or the expenses incurred or likely to be incurred (as the case may be), by the operator during the period to which the payments relate; and
(B) where a FFE Fund has been established for the investor — no payment is used for the replacement, repair or refurbishment of furniture, fittings and equipment of the strata unit in relation to the period to which the payment relates unless all money in the Fund has first been expended; and
(iv) where a FFE Fund has been established for the investor —payments into the Fund where:
(A) each payment is by way of a deduction from rental income of the scheme that would otherwise be paid to the investor in relation to a period set by the operator and does not exceed 3% of the gross rent attributable to the investor for the period; and
(B) the balance of the Fund is no more than $10,000 for each strata unit made available by the investor for use as part of the scheme;
(g) the purchase of the strata unit by the investor is not conditional on participation in the scheme whether by way of a term of the contract of sale, as a result of an interest (for example, a lease) that the strata unit is subject to immediately after the purchase or otherwise;
(h) if the operator is managing the letting of the strata units, the operator has entered into a written agreement with each investor which includes provisions to the effect of those set out in section 10;
(i) either:
(i) on 1 March 2000 there was no person who had bought or