96 Expenditures From Contingency Reserve Fund

96 The strata corporation must not spend money from the contingency reserve fund unless the expenditure is

• (a) consistent with the purposes of the fund as set out in section 92(b), and
• (b) approved or authorized as follows:
  • (i) the expenditure is first approved by a resolution passed by
    • (A) a majority vote at an annual or special general meeting if the expenditure is
      • (I) necessary to obtain a depreciation report under section 94, or
      • (II) related to the repair, maintenance or replacement, as recommended in the most current depreciation report obtained under section 94, of common property, common assets or the portions of a strata lot for which the strata corporation has taken responsibility under section 72(3), or
    • (B) a 3/4 vote at an annual or special general meeting if the expenditure is not described in clause (A)(I) or (II);
  • (ii) the expenditure is authorized under section 98.

2014-10-43.