Monday, September 28, 2020

Body Corporate And Community Management Act 1997

Chapter 3
Part 1
Division 5
Section 111C

Meaning of specified two-lot scheme | Section 111C

(1)

specified two-lot scheme means a community titles scheme to which all of the following apply—

(a)there are only 2 lots included in the scheme;

(b)the scheme is not part of a layered arrangement of community titles schemes;

(c)there is no letting agent for the scheme;

(d)the lots included in the scheme are residential lots.

(2)A community titles scheme is also a specified two-lot scheme if subsection (1)(a) to (c) apply to the scheme and either—

(a)all of the following apply to the scheme—

(i)the lots included in the scheme are not residential lots;

(ii)the first community management statement (which could be the community management statement recorded for the scheme on its establishment) identified the specified two-lot schemes module as the regulation module applying to the scheme;

(iii)when that community management statement was recorded, the lots included in the scheme were intended to be residential lots; or

Example of circumstances in which paragraph (a) may apply—

Lots included in a community titles scheme were offered for sale as residential lots, but the buyers chose not to use them as residential lots.

(b)all of the following apply for the scheme—

(i)the lots included in the scheme have previously been, but are no longer, residential lots;

(ii)when the lots included in the scheme last stopped being residential lots, the community management statement for the scheme identified the specified two-lot schemes module as the regulation module applying to the scheme;

(iii)since the lots included in the scheme last stopped being residential lots, each community management statement (if any) recorded for the scheme has identified the specified two-lot schemes module as the regulation module applying to the scheme.

(3)In this Act, a reference to a specified two-lot scheme is a reference to a community titles scheme—

(a)that is a specified two-lot scheme within the meaning of subsection (1) or (2); and

(b)whose community management statement identifies the specified two-lot schemes module as the regulation module applying to the scheme.

(4)In this section—

residential lot means a lot that is used for residential purposes, and includes a lot that is—

(a)the subject of a lease or letting for accommodation for long or short term residential purposes; or

(b)immediately available to be the subject of a lease or letting for accommodation for long or short term residential purposes.

© 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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