Requirements for registration of amendment of schedule of unit entitlements
42 Requirements for registration of amendment of schedule of unit entitlements
An amendment of a schedule of unit entitlements may only be registered —
in conjunction with an amendment of the scheme plan to give effect to a subdivision; or
if the amendment is authorised by special resolution of the community corporation; or
if the amendment is authorised by order of the Tribunal.
The Tribunal may, on the application of a community corporation or the owner of a lot in a community titles scheme, authorise the amendment of the schedule of unit entitlements for the scheme if satisfied that, if unit entitlements were to be allocated at the time of the application, the schedule of unit entitlements would require amendment for compliance with section 41(2).
If the Tribunal makes an order under this section, the applicant for the order must lodge a copy of the order certified by the Tribunal with the Registrar of Titles for registration of the amendment of the schedule of unit entitlements.
This Act’s bill:Explanatory memorandumSecond reading speech
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