Australian Capital Territory Consolidated Acts

UNIT TITLES ACT 2001 - SECT 112

    (1)     If the interest of a unit owner is subject to a mortgage, the mortgagee may give the owners corporation written notice (a mortgagee voting notice ) that—

        (a)     the unit is subject to the mortgage; and

        (b)     the mortgagee proposes to exercise the voting right given under section 110 (2); and

        (c)     an individual named in the notice (the mortgagee's representative ) is authorised to vote at general meetings for the unit on behalf of the mortgagee, instead of the person otherwise entitled to vote for the unit.

    (2)     The mortgagee voting notice must state the full name and address for correspondence of the mortgagee's representative.

    (3)     If a unit is owned by 2 or more people, and the interest of 1 of the owners who has more than a ¹ / 2 share in the unit is subject to a mortgage, the mortgagee may give a mortgagee voting notice under this section.

    (4)     If the interest of a unit owner is subject to 2 or more mortgages, this section applies only to the mortgagee whose mortgage has priority.