(2)
An owners corporation is to prepare a plan for each 10-year period following
the 10-year period to which the first plan applied. The plan is to be prepared
for the annual general meeting at which the period covered by the previous
plan expires.
(3) An owners corporation may, by resolution at a general
meeting, review, revise or replace a 10-year plan prepared under this section
and must review the plan at least once every 5 years.
(4) A plan under this
section is to include the following--
(a) details of proposed work or
maintenance,
(b) the timing and anticipated costs of any proposed work,
(e) any other matter prescribed by the
regulations for the purposes of this section.
(5) A plan under this section
is to be finalised by the end of the next annual general meeting of the
owners corporation after the annual general meeting for which the plan is
prepared.
(6) An owners corporation may engage expert assistance in the
preparation of a plan under this section.
(7) An owners corporation is, so
far as practicable (and subject to any adjustment under this section), to
implement each plan prepared under this section.