Adjustment of unit entitlements by Tribunal
40 Adjustment of unit entitlements by Tribunal
(1) A unit owner may apply to the Tribunal for the adjustment of the unit entitlements (including the unit entitlements of other units).
(2) Despite any other provision of a law of the Territory:
(a) the respondents for the proceedings of the application are the body corporate and each unit owner who has given written notice to the body corporate to join as a respondent; and
(b) each party to the proceedings is responsible for the party's own costs.
(3) The Tribunal must:
(a) approve the application by making an order adjusting the unit entitlements as the Tribunal considers appropriate; or
(b) refuse the application.
(4) In deciding the application, the Tribunal must:
(a) have regard to section 39(5) and (6); but
disregard:
(i) the applicant's state of knowledge about the unit when acquiring the unit; and
(ii) the current market value of the unit.
(5) The body corporate must lodge a subsequent scheme statement reflecting an order under subsection (3) within the time specified in the order.
Fault element: Strict liability offence.
Maximum penalty: 100 penalty units.
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