(2) The Corporations Act
does not apply to or in respect of a body corporate constituted under this
Act.
(3) Subject to this Act the body corporate shall have the powers,
authorities, duties and functions conferred or imposed on it by or under this
Act or the by-laws and shall do all things reasonably necessary for the
enforcement of the by-laws and the control, management and administration of
the common property.
(4) The body corporate must act reasonably in anything
it does under subsection (3) , including making, or not making, a decision
under the subsection.
(5) Notwithstanding the provisions of section 25, a
body corporate continues in existence until the folios of the register book
constituted by the certificates of title relating to the lots under the plan
have been cancelled.
(6) The body corporate shall have perpetual succession
and a common seal and shall be capable of suing and being sued in its
corporate name and shall be regulated in accordance with the by-laws for the
time being in force.
(a) sue and be sued on any
contract made by it; and
(b) sue for and in respect of any damage or injury
to the common property caused by any person, whether a proprietor or not; and
(c) be sued in respect of any matter connected with the parcel for which the
proprietors are jointly liable.
(8) In any case in which work is carried out
for the purpose of constructing or preparing the common property the
body corporate, upon registration of the plan, shall be deemed to have been a
party to an enforceable contract for the carrying out of such work, and may
sue in respect of that contract.
