Friday, September 25, 2020

Body Corporate And Community Management Act 1997

Chapter 8
Part 9
Division 2
Section 375

Interest schedules for particular schemes | Section 375

(1)This section applies to a community titles scheme established after the commencement if a contract for the sale of a lot intended to come into existence as a lot included in the scheme was entered into before the commencement.

(2)Section 46(8) does not apply in relation to the interest schedule for the community titles scheme.

(3)In deciding the interest schedule lot entitlements for the community titles scheme, regard must be had to—

(a)how the scheme is structured; and

(b)the nature, features and characteristics of the lots included in the scheme; and

(c)the purposes for which the lots are used.

(4)Despite subsection (2), section 48(5) applies to an order of a specialist adjudicator or QCAT to adjust the interest schedule for the community titles scheme.

© Sourced from the Queensland Legislation website at 1 April 2020. For the latest information on Queensland Government legislation please go to https://www.legislation.qld.gov.au.

Disclaimer: Reproduced from the Body Corporate and Community Management Act 1997. This website does not give legal advice or other professional advice. You should seek legal or other professional advice before acting and not rely on any of the content on this website.

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