New Zealand Legislation: Acts

6 Unit entitlement

• (1) For the purpose of determining the matters specified in subsection (3) of this section, before the unit plan is deposited there shall be assigned to every principal unit and every accessory unit a unit entitlement, to be fixed by a registered valuer within the meaning of the Valuers Act 1948 (subject to payment to the valuer of such fee as he may fix) on the basis of the relative value of the unit in relation to each of the other units on the unit plan.

  (2) Subject to paragraph (d) of section 19(5) and section 44(3) of this Act, no change shall be made in the unit entitlement of any unit after the unit plan is deposited.

  (3) The matters referred to in subsection (1) of this section are—

  • (a) The proprietor's share in the common property in accordance with section 9 of this Act;

  • (b) The extent of the proprietor's liability for damages and costs under section 14 of this Act;

  • (c) The extent of the proprietor's obligation under section 15 of this Act in respect of contributions levied by the body corporate, and of his rights under that section on a distribution of any surplus money or personal property;

  • (d) The extent of the proprietor's obligation for payment of rent and other money under section 26 of this Act;

  • (e) The extent of the proprietor's share of the value of any buildings, fixtures, and other improvements under section 30 of this Act;

  • (f) The proprietor's voting rights on a poll pursuant to clause 27 of Schedule 2 to this Act;

  • (g) Subject to section 48(5) of this Act, the proportion in which money (if any) received or held by the body corporate for distribution among the proprietors is to be distributed among them in accordance with section 45(7) of this Act; and

  • (h) The share in the land which is to vest in the proprietor under subsection (5) of section 45 of this Act upon the cancellation of the unit plan.

  Compare: Victoria Act, s 10; NSW Act, s 18

  Subsection (1) was amended, as from 1 July 1998, by section 54(1) Ratings Valuations Act 1998 (1998 No 69) by omitting the words “the Valuer-General or” and the words “,as the case may be,”. See sections 55 to 63 for the savings and transitional provisions.