Paragraph 3.2 Powers of the association

The association has, subject to rule 3.3, power to do anything necessary for or in connection with the carrying out of the function mentioned in rule 3.1 and in particular may–

(a)

own, or acquire ownership of, any part of the development;

(b)

carry out maintenance, improvements or alterations to, or demolition of, the scheme property;

(c)

enter into a contract of insurance in respect of the development or any part of it (and for that purpose the association is deemed to have an insurable interest);

(d)

purchase, or otherwise acquire or obtain the use of, moveable property;

(e)

require owners of units to contribute by way of service charge to association funds;

(f)

open and maintain an account with any bank or building society;

(g)

invest any money held by the association;

(h)

borrow money; or

(i)

engage employees or appoint agents.