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Strata Schemes Management Act 2015 No 50
Current version for 1 July 2020 to date (accessed 7 July 2020 at 16:31)
89 Order requiring original owner to pay compensation for inadequate estimates and levies
(1) The Tribunal may, on application by the owners corporation for or an owner of a lot in the strata scheme, order the original owner of the strata scheme to pay compensation to the owners corporation if the Tribunal determines that the estimates and levies determined during the initial period for the purposes of determining and meeting expenditures relating to the scheme were inadequate to meet the actual or expected expenditures of the owners corporation.(2) The Tribunal must not make an order under this section if the original owner satisfies the Tribunal that the original owner used due care and diligence in determining the estimates and levies.(3) An application under this section must be made not later than 3 years after the end of the initial period.