33ADeveloper control period—ACAT authorisation of actions

33A Developer control period—ACAT authorisation of actions (1) The owners corporation for a units plan (the applicant) may apply to the ACAT for authority to do 1 or more of the following during the developer control period: (a) enter into a contract that the corporation is otherwise prohibited from entering; (b) change the rules of the corporation. (2) The applicant must provide written notice of the application to— (a) each unit owner; and (b) if there is a mortgagee or other registered interest holder for a unit in the units plan—the mortgagee or registered interest holder. (3) The entities mentioned in subsection (2) are parties to the application. (4) The ACAT may authorise the owners corporation entering into a contract mentioned in subsection (1) (a) if the ACAT is satisfied the terms of the contract are reasonable in all the circumstances. (5) The ACAT may authorise the owners corporation changing the rules of the corporation if the ACAT is satisfied that the change is fair in the circumstances. (6) However, this section does not apply if the developer has not entered into a contract for the sale of any of the units in the units plan.