Northern Territory Consolidated Acts

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UNIT TITLE SCHEMES ACT 2009 - SECT 40

Adjustment of unit entitlements by Tribunal

    (1)     A unit owner may apply to the Tribunal for the adjustment of the unit entitlements (including the unit entitlements of other units).

    (2)     Despite any other provision of a law of the Territory:

        (a)     the respondents for the proceedings of the application are the body corporate and each unit owner who has given written notice to the body corporate to join as a respondent; and

        (b)     each party to the proceedings is responsible for the party's own costs.

    (3)     The Tribunal must:

        (a)     approve the application by making an order adjusting the unit entitlements as the Tribunal considers appropriate; or

        (b)     refuse the application.

    (4)     In deciding the application, the Tribunal must:

        (a)     have regard to section 39(5) and (6); but

        (b)     disregard:

            (i)     the applicant's state of knowledge about the unit when acquiring the unit; and

            (ii)     the current market value of the unit.

    (5)     The body corporate must lodge a subsequent scheme statement reflecting an order under subsection (3) within the time specified in the order.

Fault element:     Strict liability offence.

Maximum penalty:     100 penalty units.



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