s 11
In forceEffect of formation of scheme
Chapter 2Basic operation of a scheme
Part 2.2Life of a scheme
Division 1Forming a scheme
11 Effect of formation of scheme
(1) On the formation of the scheme:
(a) the first scheme statement takes effect; and
(b) the body corporate of the scheme is formed; and
(c) the original owner becomes the registered owner of the units; and
(d) the body corporate becomes the registered owner of the common property.
(2) On and after the scheme is formed, the body corporate, unit owners and unit occupiers are taken to have agreed to comply with the scheme statement, management module and by-laws.
(3) Subsection
(2)
has effect subject to the scheme statement of each higher scheme.
Division 2 Changing a scheme
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