154AMeaning of “relevant interest”

#### 154A Meaning of “relevant interest” 154A Meaning of “relevant interest” > > (1) In this part, relevant interest means a direct or indirect pecuniary interest or other interest a person has in the proposed collective sale or redevelopment of a strata scheme. > > > (2) Without limiting subsection (1), a person has a direct or indirect pecuniary interest if the person— > > > > > (a) is a member of, or employed by— > > > > > > > (i) the proposed purchaser for a collective sale, or > > > > > > > (ii) the proposed developer for a redevelopment, or > > > > > > > (iii) a related entity of the proposed purchaser or developer, or > > > > > (b) is a member of, or employed by, a prospective purchaser or developer who has made a competing offer to purchase the parcel or redevelop the scheme, or a related entity, or > > > > > (c) has entered into an agreement, including an agreement conferring an option, with a proposed or prospective purchaser or developer, or > > > > > (d) owns, or is a member of, or employed by, an entity that owns, land that— > > > > > > > (i) is not part of the parcel, and > > > > > > > (ii) may be impacted by the proposed collective sale or redevelopment. > > > (3) An owner of a lot does not have a direct or indirect pecuniary interest merely because the owner will— > > > > > (a) receive an apportioned amount for the sale of the lots and common property in a collective sale, or > > > > > (b) benefit from a redevelopment in the same way other owners will generally benefit from the redevelopment. > > > (4) In this section— > > > > option means a call option or put option within the meaning of the [Duties Act 1997](/view/html/inforce/current/act-1997-123), Chapter 3, Part 2. > > > > related entity has the same meaning as in the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth, section 9. > > **s 154A:** Ins 2023 No 45, Sch 1\[3\].