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In This Volume

  • 6.3 (1) For the purposes of section 95(4) of the Act, the strata corporation may only lend money in the contingency reserve fund to the operating fund if both of the following conditions are met:
  • (a) the loan is to be repaid by the end of that fiscal year of the strata corporation;
  • (b) the loan is for the purpose of covering temporary shortages in the operating fund resulting from expenses becoming payable before the budgeted monthly contributions to the operating fund to cover these expenses have been collected.
  • (2) The strata corporation must inform owners as soon as feasible of the amount and purpose of any loan made under this section.