8Constitution of owners corporation

#### 8 Constitution of owners corporation 8 Constitution of owners corporation > > (1) The owners of the lots from time to time in a strata scheme constitute a body corporate under the name “The Owners—Strata Plan No X” (X being the registered number of the strata plan to which that strata scheme relates). > > > (2) An owners corporation is declared to be an excluded matter for the purposes of section 5F of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth in relation to the whole of the Corporations legislation. > > > > Note. > > > > This subsection ensures that neither the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth nor Part 3 of the [Australian Securities and Investments Commission Act 2001](http://www.legislation.gov.au/) of the Commonwealth will apply in relation to an owners corporation. Section 5F of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth provides that if a State law declares a matter to be an excluded matter in relation to those Acts, then the provisions of those Acts will not apply in relation to that matter in the State concerned.