BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 41 Lease
BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 41
Lease41 Lease
If the body corporate acquires a lot under section 40 , the body corporate must—
(a) incorporate the lot with common property for the scheme; and
(b) lease the part of the common property that is the incorporated lot (the
"lessee common property" ) to the body corporate lessee for a period not longer than the term of the person’s authorisation as letting agent or engagement as a service contractor.