6.23 Owner Developer Must Make Payment Into Contingency Reserve Fund

• 6.23 (1) If a strata corporation is established on or after July 1, 2027, the owner developer must, in respect of the strata corporation’s obligation to obtain its first depreciation report, pay into the contingency reserve fund the lesser of the following amounts:

• (a) $5 000, plus an additional $200 multiplied by the number of strata lots in the strata corporation;
• (b) $30 000.

• (2) The owner developer must pay the amount set out in subsection (1) no later than the date of the strata corporation’s first annual general meeting.

[en. B.C. Reg. 88/2024, Sched., s. 3.]