22Shares in association property

#### 22 Shares in association property 22 Shares in association property > > (1) An association for a scheme holds association property in the scheme as agent for the following as tenants in common— > > > > > (a) the owners of the development lots or neighbourhood lots in the scheme, other than lots in a subsidiary scheme, > > > > > (b) any subsidiary body for a subsidiary scheme comprising a former development lot in the scheme. > > > (2) The shares in the association property are proportional— > > > > > (a) for owners of development lots or neighbourhood lots, to the unit entitlement of the lots, and > > > > > (b) for a subsidiary body, to the unit entitlement of the former development lot.