123Power to adjust unit entitlements

123 Power to adjust unit entitlements

123 Power to adjust unit entitlements

(1) If a whole number is obtained by dividing by a whole number the unit entitlements of the lots and proposed lots shown on a proposed schedule of unit entitlement for a strata scheme that accompanies a plan lodged for registration, or on a revised schedule of unit entitlement lodged under section 90, the Registrar-General may, in registering the plan, record in the folio for the common property—

(a) as the unit entitlement of each lot, the whole number obtained in relation to the lot, and

(b) as the aggregate unit entitlement, the appropriate aggregate unit entitlement.

(2) If a whole number is obtained by dividing by a whole number the unit entitlement of each lot in a strata scheme, the Registrar-General may amend the schedule of unit entitlement recorded in the folio for the common property—

(a) by substituting for the unit entitlement of each lot a unit entitlement equal to the whole number obtained in relation to the lot, and

(b) by substituting for the aggregate unit entitlement the appropriate aggregate unit entitlement.

(3) The Registrar-General must, on making a recording or amendment under this section, give the owners corporation of the strata scheme written notice of the unit entitlements and aggregate unit entitlement recorded.