Northern Territory Consolidated Acts

UNIT TITLES ACT - SECT 42

    (1)     A corporation may, if authorised by special resolution:

        (a)     purchase, hire or otherwise acquire, or accept, personal property (not being a leasehold interest) for its own use or for any use in connection with the use and enjoyment of the common property; and

        (b)     dispose of any property so purchased, acquired or accepted.

    (2)     A corporation may, if authorised by resolution without dissent:

        (a)     grant an easement over any portion of the common property;

        (b)     acquire or accept an easement granted for the benefit of the common property; or

        (c)     release an easement so granted, acquired or accepted,

but an easement shall not be so granted, acquired, accepted or released except upon such terms and conditions and for such purposes as are specified in the resolution.

    (3)     Subject to sections 39(1A) and 42A, a corporation is not capable, either at law or in equity, of acquiring or possessing any interest in land (not being an easement granted for the benefit of the common property).