26UTransfer of developer's interest

26U Transfer of developer's interest (1) This section applies if: (a) a units plan for a completed stage of an estate development is registered; and (b) the developer proposes to transfer all or part of the developer's interest in the development to another person (the transferee). (2) The developer must not do so unless: (a) the developer applies to the Minister in the approved form for the Minister's approval of the transfer; and (b) the Minister approves the transfer in writing. (3) The Minister must not approve the transfer unless: (a) if an application has been made under section 26W for a variation of the disclosure statement for the development to take effect after the transfer – the variation is approved by the Surveyor-General; and (b) if security is required for the variation – the security has been given and is maintained as so required.

Unit Titles Act 1975 34 (4) The developer must: (a) before applying for the approval of the transfer, give a written notice of the proposed transfer to each corporation arising from a completed stage of the development; and (b) give a written notice of the Minister's decision on the application to each such corporation after being notified of the decision. approved form means a form approved by the Minister. the developer's interest in the development does not include the developer's interest as the proprietor of: (a) a lot in the development; or (b) a unit into which a lot in the development is further subdivided under this Act.