New South Wales Consolidated Acts

STRATA SCHEMES (LEASEHOLD DEVELOPMENT) ACT 1986 - SECT 122A

122A Valuation of parcels that form part of the site of a building

(1) If the site of a building is subdivided into separate parcels of land (as referred to in section 26A of the Valuation of Land Act 1916 ), and one or more of those parcels is a parcel within the meaning of this Act, the value of any such parcel is to be determined in accordance with that section.

(2) A reference in that section to the Valuer-General is to be read, for the purposes of this section, as a reference to a valuing authority.

Note: Section 26A of the Valuation of Land Act 1916 provides that if the site of a building is subdivided into separate parcels of land, the value of each separate parcel is to be determined firstly by valuing all of those separate parcels together as if they comprised a single parcel and then by apportioning the value so obtained between the separate parcels.