127Binding effect of management statement

#### 127 Binding effect of management statement 127 Binding effect of management statement > > (1) A management statement for a scheme applies to the scheme and each subsidiary scheme and is binding on— > > > > > (a) the association for the scheme, and > > > > > (b) each subsidiary body for the scheme, and > > > > > (c) each person who is the owner, lessee or occupier, or the mortgagee or covenant chargee in possession, of a development lot, neighbourhood lot or strata lot within the scheme or a subsidiary scheme. > > > (2) A management statement has effect as if— > > > > > (a) it includes mutual covenants by each person on whom it is binding to observe and perform its provisions, and > > > > > (b) the persons so bound had signed and sealed the management statement.