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STRATA SCHEMES DEVELOPMENT ACT 2015 - SECT 154
Definitions
In this Part--
"ancillary order" --see section 186 (1).
"collective sale" of a strata scheme means a sale of the whole strata scheme.
"compensation value" , in relation to a lot, means--
(a) the compensation to
which the owner of the lot would be entitled as determined under section 55 of
the Land Acquisition (Just Terms Compensation) Act 1991 (subject to any
modifications prescribed by the regulations), or
(b) if the regulations
prescribe a different method of determining that value--the value of the lot
determined in accordance with that method.
"court" means the Land and Environment Court.
"developer" means a person or group of persons proposing to carry out a
redevelopment of a strata scheme in accordance with a strata renewal plan.
"dissenting owner" , in relation to a strata renewal plan, means an owner of a
lot in relation to which a support notice is not in effect under this Part for
the plan.
"independent valuer" means a qualified valuer who-- (a) has appropriate
experience or expertise to undertake valuations for the purpose of this Part,
and
(b) has no pecuniary or other interest that could reasonably be regarded
as capable of affecting the qualified valuer's ability to give the valuations
in good faith.
"market value" , in relation to a building and its site, means the value of
the building and its site determined in accordance with the regulations.
"objection" means an objection filed in the court in accordance with
section 180.
"operational period" of a strata renewal committee means the period for which
the committee may, under section 166, exercise its function.
"qualified request" means a qualified request under section 19 of the
Strata Schemes Management Act 2015 .
"redevelopment" of a strata scheme means a redevelopment of the whole
strata scheme in a way that alters the scheme to the extent that its
termination and replacement by a further strata plan is necessary.
"required level of support" , in relation to a strata renewal plan for a
strata scheme, means the support (given in support notices that are in effect
under this Part) of the owner or owners of at least 75% of the lots, other
than utility lots, in the scheme.
"returning officer" for a strata renewal plan means a person who is appointed
as the returning officer for the strata renewal plan in accordance with the
regulations.
"strata renewal committee" means a strata renewal committee established under
section 160.
"strata renewal plan" means a strata renewal plan prepared in accordance with
this Part for a strata scheme.
"strata renewal proposal" --see section 156 (1).
"support notice" --see section 174 (1).
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