New South Wales Consolidated Acts

STRATA SCHEMES (LEASEHOLD DEVELOPMENT) ACT 1986 - SECT 23

23 Body corporate to hold leasehold estate in common property as agent for lessees

(1973 Act, s 20)
The leasehold estate of a body corporate in common property shall be held by the body corporate as agent:

(a) where the same person or persons is or are the lessee or lessees of the lots the subject of the leasehold strata scheme concerned-for that lessee or those lessees, or

(b) where different persons are lessees of each of two or more of the lots the subject of the leasehold strata scheme concerned-for those lessees as tenants in common in shares proportional to the unit entitlements of their respective lots.