BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 111C
Meaning of specified two-lot scheme
BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 111C
Meaning of specified two-lot scheme
(1) A
"specified two-lot scheme" means a community titles scheme to which all of the
following apply— (a) there are only 2 lots included in the scheme;
(b) the
scheme is not part of a layered arrangement of community titles schemes;
(c)
there is no letting agent for the scheme;
(d) the lots included in the
scheme are residential lots.
(2) A community titles scheme is also a
"specified two-lot scheme" if subsection (1) (a) to (c) apply to the
scheme and either— (a) all of the following apply to the scheme— (i) the
lots included in the scheme are not residential lots;
(ii) the first
community management statement (which could be the
community management statement recorded for the scheme on its establishment)
identified the specified two-lot schemes module as the regulation module
applying to the scheme;
(iii) when that community management statement was
recorded, the lots included in the scheme were intended to be
residential lots; or
Example of circumstances in which paragraph (a) may
apply— Lots included in a community titles scheme were offered for sale as
residential lots, but the buyers chose not to use them as residential lots.
(b) all of the following apply for the scheme— (i) the lots included in the
scheme have previously been, but are no longer, residential lots;
(ii) when
the lots included in the scheme last stopped being residential lots, the
community management statement for the scheme identified the
specified two-lot schemes module as the regulation module applying to the
scheme;
(iii) since the lots included in the scheme last stopped being
residential lots, each community management statement (if any) recorded for
the scheme has identified the specified two-lot schemes module as the
regulation module applying to the scheme.
(3) In this Act, a reference to a
specified two-lot scheme is a reference to a community titles scheme— (a)
that is a specified two-lot scheme within the meaning of subsection (1) or (2)
; and
(b) whose community management statement identifies the
specified two-lot schemes module as the regulation module applying to the
scheme.
(4) In this section—
"residential lot" means a lot that is used for residential purposes, and
includes a lot that is— (a) the subject of a lease or letting for
accommodation for long or short term residential purposes; or
(b) immediately
available to be the subject of a lease or letting for accommodation for long
or short term residential purposes.
