Sectional Titles Schemes Management Act, 2011 (Act No. 8 of 2011)

Regulations

Sectional Titles Schemes Management Regulations, 2016

Annexures

Annexure 1 : Management rules

Part 5 : Financial Management

25. Contributions and charges

Purchase

(1)	The body corporate must, as soon as possible but not later than 14 days after the approval of the budgets referred to in rule 17(6)(j)(iv) by a general meeting, give each member written notice of the contributions and charges due and payable by that member to the body corporate, which notice must—

(a)	state that the member has an obligation to pay the specified contributions and charges; and

(b)	specify the due date for each payment; and

(c)	if applicable, state that interest at a rate specified in the notice will be payable on any overdue contributions and charges; and

(d)	include details of the dispute resolution process that applies in respect of disputed contributions and charges.

(2)	If money owing is not paid on the dates specified in the notice referred to in sub-rule (1), the body corporate must send a final notice to the member, which notice must state—

(a)	that the member has an obligation to pay the overdue contributions and charges and any applicable interest immediately; and

(b)	if applicable—

(i)	the interest that is payable in respect of the overdue contributions and charges at the date of the final notice; and

(ii)	the amount of interest that will accrue daily until the payment of the overdue contributions and charges; and

(c)	that the body corporate intends to take action to recover the amount due if the overdue contributions and charges and interest owing are not paid within 14 days after the date the final notice is given.

(3)

Subject to rules 21(3) (a) and (b), after the expiry of a financial year and until they become liable for contributions in respect of the next financial year, members are liable for contributions in the same amounts and payable in the same installments as were due and payable by them during the past financial year.

(4)

A member is liable for and must pay to the body corporate all reasonable legal costs and disbursements, as taxed or agreed by the member, incurred by the body corporate in the collection of arrear contributions or any other arrear amounts due and owing by such member to the body corporate, or in enforcing compliance with these rules, the conduct rules or the Act.

(5)	The body corporate must not debit a member's account with any amount that is not a contribution or a charge levied in terms of the Act or these rules without the member's consent or the authority of a judgment or order by a judge, adjudicator or arbitrator.

(6)	The body corporate must in its annual financial statements account for all contributions and any other charges debited to members’ accounts.

(7)	On request in writing by a member the body corporate must make available a full and detailed account of all amounts debited and credited to the member's account with the body corporate.