Victorian Consolidated Legislation

Subdivision Act 1988 - SECT 27C

What is a limited owners corporation?

27C. What is a limited owners corporation?



(1) A limited owners corporation is an owners corporation specified on a plan
as a limited owners corporation.

(2) The plan must be accompanied by a document specifying the purposes of the
limited owners corporation.

(3) Only the members of a limited owners corporation affecting a lot are
entitled to use any common property affected by that limited owners
corporation.

(4) The plan may be accompanied by a document specifying the functions or
obligations of the limited owners corporation under the
Owners Corporations Act 2006 that are to be carried out or complied with by
the unlimited owners corporation affecting the land affected by the limited
owners corporation.

(5) If a document accompanying a plan specifies functions or obligations as
provided for in subsection (4), then, despite anything to the contrary in the
Owners Corporations Act 2006, on the registration of the plan-

   (a)  the unlimited owners corporation must carry out those functions or
        comply with those obligations instead of the limited owners
        corporation; and

   (b)  the limited owners corporation is not required to carry out those
        functions or comply with those obligations.

Example A document accompanying a plan may specify that the unlimited owners
corporation is to issue owners corporation certificates instead of the limited
owners corporation.