Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered Regulationssubstitute
37 Notice accompanying proposed annual budget—Act, s 159 (5) (d)
The notice accompanying a proposed annual budget must include the following statements:
(a) the operator must provide the information in relation to the proposed expenditure that the residents committee or, if there is no residents committee, a resident reasonably requests;
(b) the operator must not spend money received by way of recurrent charges otherwise than in accordance with the approved annual budget, except in a way that would be only—
(i) a minor amendment of the approved annual budget; or
(ii) an amendment between items in the approved annual budget if the amendment does not reduce the level of services provided and does not cause total expenditure to be exceeded;
(c) it is a requirement of the Act
, section 159 (Proposed annual budget) that the operator of the village give each resident a copy of the proposed annual budget for the financial year for the village—
(i) on a day, at least 30 days before the beginning of the financial year to which the budget relates, agreed to by the operator and the residents; or
(ii) if no day is agreed—at least 60 days before the beginning of the financial year to which the budget relates;
(d) it is a requirement of the Act
, section 162 (Residents' consent to spending) that the residents—
(i) tell the operator whether they consent or do not consent to the proposed budget; and
(ii) if the residents do not consent to the proposed budget—state which item in the proposed budget they object to;
(e) if the operator is not told whether the residents consent or do not consent to the proposed budget, the residents are taken to have refused consent;
(f) consent by residents to an amendment of recurrent charges under the village contract is not consent to spending stated in the proposed budget.