8Schedules of unit entitlement—the Act, s 115(2)(c)

8 Schedules of unit entitlement—the Act, s 115(2)(c)

8 Schedules of unit entitlement—the Act, s 115(2)(c)

(1) A schedule of unit entitlement accompanying a scheme plan must contain 3 columns as follows—

(a) the first column, headed “LOT”, must list the lots in the scheme in numerical order,

(b) the second column, headed “UNIT ENTITLEMENT”, must contain—

(i) for the association property—the words “COMMUNITY PROPERTY”, “PRECINCT PROPERTY” or “NEIGHBOURHOOD PROPERTY”, as the case requires, and

(ii) for a lot that is to be dedicated as a public reserve or drainage reserve—the words “PUBLIC RESERVE” or “DRAINAGE RESERVE”, as the case requires, and

(iii) for each other lot—the value of the unit entitlement,

(c) the third column, headed “SUBDIVISION”, must record details of subsequent subdivisions, consolidations, severances and other changes to lots as they occur.

(2) At the end of the schedule of unit entitlement—

(a) the first column must contain the word “TOTAL”, and

(b) the second column must contain the total value of all the unit entitlements of the individual lots referred to in subsection (1)(b)(iii).

(3) A warning statement that the schedule of unit entitlement may be altered or replaced must be—

(a) in the approved form, and

(b) set out in the panels provided on the administration sheet required to accompany the scheme plan.