Reserve Fund


Feb

22

2017
The two Body Corporate funds

The two Body Corporate funds

The Sectional Titles Schemes Management Act 8 of 2011 (“the STSMA”) and the Prescribed Management Rules (“PMRs”) contained in Annexure 1 to the Regulations made thereunder provide for bodies corporate to have two separate funds, a reserve and administrative fund. This article will distinguish between these two funds, and set out what each fund must be used for. 1. Reserve fund In terms of section…

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