Queensland Consolidated Acts

SANCTUARY COVE RESORT ACT 1985 - SECT 124

124 End of appointment of original owner of secondary lot as nominee for subsidiary body corporate

(1) This section applies if—

(a) before the commencement—

(i) a subsidiary body corporate under a building units or group titles plan appointed as its nominee, under section 24 , the original owner of the secondary lot subdivided by the plan or an ineligible associate of the original owner; and

(ii) the original owner ceased to own more than 50% of the lots; and

(b) immediately before the commencement, the original owner or ineligible associate was still the nominee for the subsidiary body corporate.

(2) Despite section 24A , the owner’s or associate’s appointment as the nominee for the subsidiary body corporate ends when the first of the following happens—

(a) the beginning of the effective day;

(b) the secretary of the principal body corporate receives a written notice under section 24 (7) (b) of—

(i) the cancellation of the appointment; or

(ii) the appointment of another nominee for the subsidiary body corporate.

(3) In this section—

"ineligible associate" see section 24A (2) (b) .

"subsidiary body corporate" , under a building units or group titles plan subdividing a secondary lot within a residential zone, means the body corporate created by the registration of the plan.