(1) Subject to
subsection (3), a strata company may enter into a transaction to which this
section applies and execute documents related to the transaction in its own
name, as if —
(a) for
a freehold scheme — it were the owner of an estate in fee simple in the
land; or
(b) for
a leasehold scheme — it were the owner of a leasehold estate in the land
under a registered lease that expires on the expiry day for the scheme.
(2) This section
applies to the following transactions for a strata titles scheme —
(a) the
acceptance of a transfer of land that —
(i)
is contiguous to the parcel or separated only by a road,
railway or waterway; and
(ii)
is not subject to a mortgage or other encumbrance; and
(iii)
is to be added to the common property in the scheme in
connection with a subdivision that is to be given effect by registration of an
amendment of the scheme;
(b) the
disposal of land comprising common property (other than temporary common
property) in the scheme in connection with a subdivision that is to be given
effect by registration of an amendment of the scheme;
(c) a
lease of common property in the scheme;
(d) the
surrender of or re-entry under a lease of common property in the scheme;
(e) the
execution, acceptance, discharge or surrender of an easement or restrictive
covenant burdening or benefiting the parcel.
(3) The strata company
may enter into a transaction to which this section applies if —
(a) the
transaction is authorised by a resolution without dissent; or
(b) the
transaction is required for completion of a stage of subdivision to which
staged subdivision by-laws apply and the subdivision has been undertaken with
sufficient compliance with the by-laws as determined in accordance with the
regulations.
Note for this subsection:
Staged subdivision
by-laws cannot apply to subdivision comprised of the removal, from the parcel,
of land comprised of common property or the addition, to the parcel, of land
from outside the parcel. Consequently, paragraph (b) can only apply in the
context of a type 1 subdivision comprised of the conversion of a lot to common
property or a type 3 or type 4 subdivision.
(4) This section does
not affect the making of an exclusive use by-law by the strata company.
(5) The
Property Law Act 1969 section 121 does not apply to a right, arising from an
instrument executed under this section, to access or to the use of light or
air.
[Section 93 inserted: No. 30 of 2018 s. 83.]