Community Titles Act 2018

This section applies to the following —

a contract for the provision of services or amenities to the community corporation or to members of the community corporation entered into or arranged by the original subdivision owner for the subdivision or by the community corporation;

any other contract that binds the community corporation;

a lease or licence of the common property of the community titles scheme.

An original subdivision owner for a subdivision of land by a community titles scheme must disclose in writing to the community corporation for the scheme the following for each contract, lease or licence to which this section applies —

details of any remuneration or other benefit (including savings connected with installation or commissioning of infrastructure for the provision of services under the contract) that the original subdivision owner or an associate of the original subdivision owner has received or has a reasonable expectation of receiving arising out of the contract, lease or licence;

details of any other direct or indirect pecuniary interest that the original subdivision owner or an associate of the original subdivision owner has in the contract, lease or licence, other than as a member of the community corporation.

The disclosure —

must be made as soon as reasonably practicable after the original subdivision owner becomes aware of the facts giving rise to the requirement to disclose; and

must include information as to the value of the remuneration or other benefit.