(1) A
plan of community division may, in addition to dividing land into
community lots and common property, create one or more development lots to
enable division of the community parcel to be undertaken in stages.
(2) The land comprised
in a development lot will be divided during a subsequent stage or stages in
accordance with a development contract.
(3) The division of a
development lot results in the creation of community lots of the same kind as
those created in previous stages 1 and may involve the creation of common
property as well.
(4) Subject to
the scheme description and the development contract, the owner of a
development lot may, if he or she wishes to, divide the lot in stages.
Explanatory Note—
1 For example, if a plan of community division
divides land into primary lots, common property and a development lot, the
lots created by subsequent division of the development lot can only be
primary lots.