11Effect of formation of scheme

11 Effect of formation of scheme (1) On the formation of the scheme: (a) the first scheme statement takes effect; and (b) the body corporate of the scheme is formed; and (c) the original owner becomes the registered owner of the units; and (d) the body corporate becomes the registered owner of the common property. (2) On and after the scheme is formed, the body corporate, unit owners and unit occupiers are taken to have agreed to comply with the scheme statement, management module and by-laws. (3) Subsection (2) has effect subject to the scheme statement of each higher scheme.

Unit Title Schemes Act 2009 12