COMMUNITY LAND DEVELOPMENT ACT 1989 - SECT 66 Compensation on resumption of association property or common property

COMMUNITY LAND DEVELOPMENT ACT 1989 - SECT 66

66 Compensation on resumption of association property or common property

(1) Compensation for a resumption of association property or common property may be claimed only by, and awarded and paid only to, the association or strata corporation in which it was vested.

(2) Subsection (1) has effect as if the beneficial interests of the members in the property were vested in the association or strata corporation but any compensation paid is held by the association or strata corporation in trust for the members according to their beneficial interests immediately before the resumption.