Northern Territory Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

UNIT TITLE SCHEMES ACT 2009 (NO 14 OF 2009) - SECT 40

Adjusting unit entitlements under court order

    (1)     A unit owner may apply to the Local Court for the adjustment of the unit entitlements (including the unit entitlements of other units).

    (2)     Despite any other provision of a law of the Territory:

    (a)     the respondents for the proceedings of the application are the body corporate and each unit owner who has given written notice to the body corporate to join as a respondent; and

    (b)     each party to the proceedings is responsible for the party's own costs.

    (3)     The Local Court must:

    (a)     approve the application by making an order adjusting the unit entitlements as the Court considers appropriate; or

    (b)     refuse the application.

    (4)     In deciding the application, the Local Court must:

    (a)     have regard to section 39 (5) and (6); but

    (b)     disregard:

        (i)     the applicant's state of knowledge about the unit when acquiring the unit; and

        (ii)     the current market value of the unit.

    (5)     The body corporate must lodge a subsequent scheme statement reflecting an order under subsection (3) within the time specified in the order.

Fault element:     Strict liability offence.

Maximum penalty:     100 penalty units.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback