Sinking Fund In Cooperative Society

Dear Sir, It will be decided by the Deputy Registrar on the basis of bye-laws of the Society linked with any other resolutions passed during general body meeting of the Society. It will be considered on merits in the larger interest of members of the Society.

Dear Client, The sinking fund, is the body corporate’s savings account. A place where the building accumulates funds over a longer period of time, reserved for capital expenditure only. Examples of sinking fund expenses would be repainting the building, resurfacing the driveway, pool or lift refurbishments, as well any ‘old for new’ capital replacements of any assets or infrastructure. Each owner within the body corporate will pay their share of the administrative and sinking fund levies based on their contribution schedule lot entitlement (CSLE). Thank you.