About this template
Trustees may resolve to levy a special contribution if additional income is required to meet a necessary expense that cannot reasonably be delayed until provided for in the budget for the next financial year. They can also resolve to charge interest on any overdue amount payable to the body corporate, but the interest rate cannot exceed the maximum rate of interest payable per annum under the National Credit Act, compounded monthly in arrear.
Law: Section 3(1)(c), (3) and (4) of the STSM Act and PMR 21(3)(a) and (c).
This form can be signed by any authorised trustee or agent.