Our Information and Community Education Unit has noticed the terms ‘committee spending limit’ and ‘major spending limit’ are increasingly being used interchangeably. While it is true that both terms relate to body corporate spending, they are not the same. In this article we outline key information about both of these spending limits, while also highlighting…
The Body Corporate and Community Management Act 1997 (BCCM Act) sets out a number of spending limits. Some of these intersect with others. Some need to go to general meeting and some depend on the number of lots in the scheme. The rules relating to them are scattered across the relevant Regulation Modules. This article sets them…