Strata Titles Act 1985

Leasehold by‑laws of a leasehold scheme are by‑laws that provide —

for postponement of the expiry day for the scheme; or

for compensation payable on the expiry of the scheme.

If a leasehold scheme does not have leasehold by‑laws, the expiry day for the scheme cannot be postponed.

The expiry day for a leasehold scheme —

cannot be postponed to a day that is more than 99 years after registration of the scheme; and

cannot be postponed unless the postponement is supported by resolution of the strata company as set out in section 41.

Leasehold by‑laws —

may provide that the owner of the leasehold scheme is to be paid an amount for the postponement of the expiry day for the scheme by the owner of each lot in the scheme and, if they do so —

the amount paid by the owners of the lots must be proportional to the unit entitlements of their respective lots; and

the by‑laws —

must set out how the amount is to be calculated; and

must set out when and how the amount is to be paid (which must be at least 4 months before the expiry day); and

must provide that, if the amount is not paid as required under the by‑laws, the owner of the leasehold scheme is entitled to re‑enter the lot from the end of the expiry day for the scheme that applied before the postponement;

may provide for compensation to be payable to the owner of a lot on the expiry of the scheme for improvements to the lot effected by the owner or a former owner of the lot; and

must comply with requirements set out in the regulations.

Leasehold by‑laws can only be made, amended or repealed if the owner of the leasehold scheme has given written consent to the by‑laws.