How is a section 47 notice issued?
Written by Jessica Tait
Updated at January 18th, 2021
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Import
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The strata council serves a written notice on all proprietors and first mortgagees of all lots in the scheme setting out the expenditure required. The proprietors and first mortgagees then have 14 days to respond to the notice which is approved unless, within 14 days: written objections are made by the proprietors or first mortgagees of more than 25 percent of the lots or written objections are made by the proprietors or first mortgagees of lots of which the unit entitlement is at least 25 percent of the aggregate unit entitlement of the lots in the scheme.
It is important to note that property therefore if this expenditure is necessary it is in best interest of all owners that approval is provided.