Western Australian Current Acts Western Australian Current Acts (1) The schedule of
unit entitlements for a strata titles scheme must —
(a)
allocate a whole number (a unit entitlement ) to each lot in the strata titles
scheme; and
(b)
state the number that is the sum of the unit entitlements of all the lots in
the strata titles scheme.
Note for this subsection:
The unit entitlement
of a lot determines —
• the interest of the owner of the lot in
the common property in the strata titles scheme: see section 13; and
• subject to the scheme by-laws, the
contributions payable by the owner of a lot in the scheme: see section 100;
and
• the voting rights that attach to the lot:
see section 120.
(2) When allocated,
the proportion that a unit entitlement of a lot bears to the sum of the unit
entitlements of all the lots in the strata titles scheme must not be greater
than 5% more, or 5% less, than the proportion that the value of the lot bears
to the sum of the value of all the lots in the strata titles scheme.
(3) The value of a lot
is —
(a) in a
strata scheme — the capital value; and
(b) in a
survey-strata scheme — the site value.
(4) Without
limitation, the regulations may prescribe matters relating to the
determination of the value of a lot.
(5) A schedule of unit
entitlements, or an amendment of a schedule of unit entitlements, for a strata
titles scheme must —
(a) be
in the approved form; and
(b) be
prepared and certified by a licensed valuer.
(6) A licensed valuer
must comply with the regulations and Transfer of Land Act requirements in
preparing and certifying a schedule of unit entitlements, or an amendment of a
schedule of unit entitlements, for a strata titles scheme.
(7) A schedule of unit
entitlements, or an amendment of a schedule of unit entitlements, must not be
registered unless it is certified by a licensed valuer within a period
specified in the regulations before an application is made for registration of
the schedule or amendment.
[Section 37 inserted: No. 30 of 2018 s. 83.]
[Former section 37 renumbered as section 116 and relocated to Part 8 Division
1 Subdivision 7: No. 30 of 2018 s. 84.]