Document ID: chunk:federal_register_of_legislation:F2023C00203:clause:6_23
Version: federal_register_of_legislation:F2023C00203
Segment Type: clause
Provision Reference: sch 6 cl 23
Character Range: 85103–86039

23  Statement of expenditure etc.—section 112
 (1) For the purposes of paragraph 112(1)(a), the prescribed period is:
 (a) in the case of a body corporate consisting of at least 7 but not more than 20 community lots—3 years; or
 (b) in the case of a body corporate consisting of more than 20 community lots—5 years.
 (2) For the purposes of subsection 112(2), new information must be prepared for the purposes of paragraph 112(1)(a):
 (a) if the proposed expenditure (other than recurrent expenditure) is for a period of 3 years—every 3 years; or
 (b) if the proposed expenditure (other than recurrent expenditure) is for a period of 5 years—every 5 years.
 (3) The following are excluded from the operation of paragraphs 112(1)(a) and (b):
 (a) bodies corporate consisting of 6 or less community lots;
 (b) bodies corporate that have buildings and other improvements on their common property insured for a sum not exceeding $100,000.