Northern Territory Consolidated Acts

UNIT TITLE SCHEMES ACT 2009 - SECT 62

    (1)     This Part provides for the following:

        (a)     the progressive development of a scheme;

        (b)     the formation of a layered scheme;

        (c)     the amalgamation of basic schemes.

    (2)     The progressive development of a scheme:

        (a)     will result in a change in the scheme land (including, for example, a reduction of the scheme land or a further subdivision of any of the units); and

        (b)     may result in the formation of 1 or more subsidiary schemes or layered schemes.

    (3)     The amalgamation of 2 or more basic schemes will result in 1 of the following:

        (a)     the formation of a layered scheme;

        (b)     the formation of a new scheme to replace the basic schemes.