sec.432Process if body corporate has not decided lot entitlement schedule changes

sec.432 Process if body corporate has not decided lot entitlement schedule changes

This section applies if, at the commencement, the body corporate has not, for the formal acquisition, decided the changes to the lot entitlement schedules for the community titles scheme under former section 51(2) or 51A(2). If it has not already done so, the constructing authority must give the relevant documents for the formal acquisition to the body corporate. New section 51(2) to (11) or 51A(2) to (10) apply in relation to the formal acquisition as if— the relevant documents given by the constructing authority to the body corporate were given under new section 51(1) or 51A(1); and the reference to the 3 month period in new section 51(2) or 51A(2) were a reference to the prescribed decision period; and the reference to the 4 month period in new section 51(5) and (7) or 51A(4) and (6) were a reference to the prescribed consent period. Four months before the commencement, the constructing authority gives the body corporate— advice about the acquisition as mentioned in former section 51(1) or 51A(1); and the relevant documents for the acquisition. Under subsection (4), the prescribed consent period for applying new section 51(5) and (7) or 51A(4) and (6) is the period ending at the commencement (see subsection (4)(b)(i)), and the prescribed decision period for applying new section 51(2) or 51A(2) is the period ending 30 days before the commencement. For subsection (3)— the prescribed decision period is the period ending 30 days before the relevant prescribed consent period ends, which may be a period ending on or before the commencement; and the prescribed consent period is— if the constructing authority gave the body corporate advice about the acquisition as mentioned in former section 51(1) or 51A(1), and the relevant documents for the acquisition, at least 4 months before the commencement—the period ending at the commencement; or if the constructing authority gave the body corporate advice about the acquisition as mentioned in former section 51(1) or 51A(1) at least 4 months before the commencement but gave or gives the relevant documents for the acquisition to the body corporate at a later time—the period ending on the day that is 3 months after the constructing authority gave or gives the body corporate the relevant documents; or otherwise—the period ending on the day that is 4 months after the constructing authority gave or gives the body corporate the relevant documents. s 432 ins 2013 No. 25 s 10 (sec.432-ssec.1) This section applies if, at the commencement, the body corporate has not, for the formal acquisition, decided the changes to the lot entitlement schedules for the community titles scheme under former section 51(2) or 51A(2). (sec.432-ssec.2) If it has not already done so, the constructing authority must give the relevant documents for the formal acquisition to the body corporate. (sec.432-ssec.3) New section 51(2) to (11) or 51A(2) to (10) apply in relation to the formal acquisition as if— the relevant documents given by the constructing authority to the body corporate were given under new section 51(1) or 51A(1); and the reference to the 3 month period in new section 51(2) or 51A(2) were a reference to the prescribed decision period; and the reference to the 4 month period in new section 51(5) and (7) or 51A(4) and (6) were a reference to the prescribed consent period. Four months before the commencement, the constructing authority gives the body corporate— advice about the acquisition as mentioned in former section 51(1) or 51A(1); and the relevant documents for the acquisition. Under subsection (4), the prescribed consent period for applying new section 51(5) and (7) or 51A(4) and (6) is the period ending at the commencement (see subsection (4)(b)(i)), and the prescribed decision period for applying new section 51(2) or 51A(2) is the period ending 30 days before the commencement. (sec.432-ssec.4) For subsection (3)— the prescribed decision period is the period ending 30 days before the relevant prescribed consent period ends, which may be a period ending on or before the commencement; and the prescribed consent period is— if the constructing authority gave the body corporate advice about the acquisition as mentioned in former section 51(1) or 51A(1), and the relevant documents for the acquisition, at least 4 months before the commencement—the period ending at the commencement; or if the constructing authority gave the body corporate advice about the acquisition as mentioned in former section 51(1) or 51A(1) at least 4 months before the commencement but gave or gives the relevant documents for the acquisition to the body corporate at a later time—the period ending on the day that is 3 months after the constructing authority gave or gives the body corporate the relevant documents; or otherwise—the period ending on the day that is 4 months after the constructing authority gave or gives the body corporate the relevant documents.