(2) Property can not be a body corporate
asset for more than 1 community titles scheme, although a body corporate asset
may comprise a share as tenant in common in an item of property, including,
for example, property in which the body corporate for another
community titles scheme also has a share.
(3) A body corporate may (in the
way and to the extent this Act provides) acquire, and dispose of, a body
corporate asset, but must not, except to the extent permitted under a
regulation module, mortgage, or otherwise create a charge over, the asset.