Victorian Numbered Acts Victorian Numbered Acts(1) In section 3(1) of the Subdivision Act 1988 , the definitions of "body corporate", "land affected by a body corporate", "limited body corporate", " lot entitlement", " lot liability" and " unlimited body corporate" are repealed .
(2) In section 3(1) of the Subdivision Act 1988 , insert the following definitions—
' "land affected by an owners corporation" means the lots the owners for the time being of which are the members of the owners corporation together with the common property for which the owners corporation is responsible;
"limited owners corporation" has the meaning set out in section 27C;
"lot affected by an owners corporation" means a lot the owner for the time being of which is a member of the owners corporation;
"lot entitlement" in relation to a lot affected by an owners corporation, means a number specified in the plan as the lot entitlement for that lot, expressing the extent of the lot owner's interest in any common property affected by the owners corporation;
"lot liability" in relation to a lot affected by an owners corporation, means a number specified in the plan as the lot liability for that lot, expressing the proportion of the administrative and general expenses of the owners corporation that the lot owner is obliged to pay;
"owners corporation" means a body corporate that is incorporated by registration of—
(a) a plan of subdivision; or
(b) a plan of strata subdivision; or
(c) a plan of cluster subdivision;
"unlimited owners corporation" has the meaning set out in section 27B;'.
(3) In section 3(1) of the Subdivision Act 1988 , in the definition of "plan" for "section 24A, 32, 32B or 37" substitute "section 24A, 32B or 37 or Division 3 of Part 5".