Over the last ten plus years I have often been asked when and how special contributions (or “special levies”) can be legally raised. There are so many misconceptions and misunderstanding in regard to special levies. I have been told that:
What is a levy? A levy is an amount determined by the Trustees of a Body Corporate payable by each owner/member of the scheme in proportion to the size of
In terms of Prescribed Management Rule contained in Annexure 1 to the Regulations of the STSM Act (“PMR”) 25(1) the body corporate must, within 14 days after the approval of the annual budget at the AGM, give the members notice of their liability to pay the contributions levied, and this notice must include:
Telephone +27 11 051 8555
Email
[email protected]
Stratafin is a registered credit provider with the National Credit Regulator, NCRCP14950
