COMMUNITY TITLE ACT 2001 - SECT 87 Definitions—pt 12

COMMUNITY TITLE ACT 2001 - SECT 87

In this part:

"basic scheme" means a community title scheme that consists entirely of lots that are registered under the Land Titles Act 1925

and that are not—

        (a)     land of another community title scheme; or

        (b)     land that has been subdivided under the Unit Titles Act 2001

.

"termination issues" means—

        (a)     the disposal, and disposition of proceeds from the disposal, of the land that, immediately before the termination of a community title scheme, is scheme land; and

        (b)     custody, management and distribution (including the disposal, and disposition of proceeds from the disposal) of items of property that, immediately before the termination of a community title scheme are body corporate assets; and

        (c)     the sharing of liabilities that, immediately before the termination of a community title scheme, are liabilities of the body corporate.