15. Miscellaneous powers of body corporate
Feedback & supportA body corporate may —
body corporate
“body corporate” means a body corporate constituted under an order made by the Minister pursuant to section 3;
invest any moneys in its management fund in any manner permitted by law for the investment of trust funds or in any prescribed investment;
invest any moneys in its sinking fund in any prescribed investment;
borrow moneys and secure the repayment thereof and of any interest in such manner as may be agreed upon by the body corporate and the lender;
interest
“interest”, in relation to a flat, means any interest in land recognised as such by law, and includes an estate in land;
enter into an agreement with the owner or occupier of a flat for the provision of amenities or services by it to the flat or to the owner or occupier thereof;
owner
“owner”, in relation to a flat, means the owner for the time being of that flat having a leasehold estate in the flat created by a lease registered under the Land Titles Act and having an unexpired term of not less than 21 years computed from the date of lodgment of the lease with the Registrar (whether such lease has been created before, on or after the commencement of this Act);
purchase, hire or otherwise acquire personal property for use by the owners of flats in the housing estate in connection with their enjoyment of the common property; and
housing estate
“housing estate” means any housing estate built on any of the parcels of land which are more particularly described in the First Schedule;
do all things reasonably necessary for the performance of its duties under this Act and for the enforcement of the by-laws.