Unit entitlements
16 Unit entitlements
Each lot created by a plan has a unit entitlement.
A unit entitlement – may be a general unit entitlement operating for all the purposes of this Act; or may be a special unit entitlement operating for any one or more of the following purposes:for fixing the proportionate contribution to be made by the owner of the lot to the body corporate; for fixing the owner's proportionate interest in the common property; for fixing the number of votes to be exercisable by the owner of the lot at a general meeting of the body corporate; for fixing the proportion of the body corporate's income to be apportioned to the owner of the lot.
If a lot has a special unit entitlement for a particular purpose, it must also have a general unit entitlement for other purposes and a reference in this Act to the unit entitlement of the lot is to be taken, so far as relevant to a purpose for which the special unit entitlement was established, as a reference to the special unit entitlement but otherwise is to be taken to be a reference to the general unit entitlement of the lot.
A unit entitlement must be a whole number.
The unit entitlement, or a particular class of unit entitlement, may be the same for each lot or may vary from lot to lot.
Unit entitlements must be fixed on a fair and equitable basis.
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