(1)
A long-term maintenance plan must—
cover—
the common property, building elements, and infrastructure of the unit title development; and
any additional items that the body corporate has decided by ordinary resolution to include in the plan; and
identify those items that the body corporate may decide by ordinary resolution not to maintain for any period during the lifetime of the plan; and
state the period covered by the plan; and
state the estimated age and life expectancy of each item covered by the plan; and
state the estimated cost of maintenance and replacement of each item covered by the plan; and
state whether there is a long-term maintenance fund; and
if there is a long-term maintenance fund, state the amount determined by the body corporate to be applied to maintain the fund each year; and
state who has prepared the plan.
(2)
A body corporate must carry out a review of its plan at least once every 3 years.
(3)
Subject to subclause (2), a body corporate may carry out a review of its plan as frequently as it considers necessary.