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Can penalty interest on arrears of levies only be imposed after a special resolution of an Owners Corporation?

April 26, 2017arrears corporation imposed levies owners penalty resolution special

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Can penalty interest on arrears of levies only be imposed after a special resolution of an Owners Corporation?

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No resolution is needed as an owners corporation is permitted to charge interest as per section 29 of the Owners Corporation Act. The interest is set by the Penalty Interest Rates Act 1983.