New South Wales Consolidated Acts
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STRATA SCHEMES MANAGEMENT ACT 2015 - SECT 8
Constitution of owners corporation
(1) The owners of the lots from time to time in a strata scheme constitute a
body corporate under the name "The Owners--Strata Plan No X" (X being
the registered number of the strata plan to which that strata scheme relates).
(2) An owners corporation is declared to be an excluded matter for the
purposes of section 5F of the Corporations Act 2001 of the Commonwealth in
relation to the whole of the Corporations legislation. Note--: This subsection
ensures that neither the Corporations Act 2001 of the Commonwealth nor Part 3
of the Australian Securities and Investments Commission Act 2001 of the
Commonwealth will apply in relation to an owners corporation. Section 5F of
the Corporations Act 2001 of the Commonwealth provides that if a State law
declares a matter to be an excluded matter in relation to those Acts, then the
provisions of those Acts will not apply in relation to that matter in the
State concerned.
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