(1) Notwithstanding anything in section 12 of the principal Act, but subject to the succeeding provisions of this section, the registered proprietor for the time being of a stratum estate in a future development unit shall not, by virtue only of the fact that he is the registered proprietor of that estate, be a member of the relevant body corporate constituted by that section.
(2) Notwithstanding anything in section 15 of the principal Act, the body corporate shall have no duties in respect of any future development unit comprising part of the development; nor shall the registered proprietor of the stratum estate in any such unit be required to contribute to any fund established by the body corporate pursuant to that section.
(3) Notwithstanding anything in subsection (2) of this section or in the principal Act, the body corporate may enter into any agreement with the registered proprietor of a future development unit for the undertaking of any work or the expenditure of any money for the mutual benefit of the body corporate and that registered proprietor.
(4) Notwithstanding anything in section 18 or section 19 or section 44 of the principal Act, no part of the common property may be dealt with, and no land may be added to the common property, and no unit or part of the common property may be redeveloped, without the consent of every registered proprietor of a future development unit included in the development.
(5) In the case of a development to which Part 2 of the principal Act applies, every registered proprietor of a future development unit shall be deemed to be a member of the body corporate for the purposes of the provisions of that Part, and those provisions shall apply as if—
(6) For the purposes of sections 45(1), 46(1), and 47(1) of the principal Act, every registered proprietor of a stratum estate in a future development unit comprising part of a development shall be deemed to be the registered proprietor of a principal unit comprising part of the development; but, in respect of the cancellation of a stage unit plan the following provisions shall apply:
(a) Before the plan is cancelled, the whole development (excluding every future development unit), and each future development unit, shall be separately valued by a registered valuer within the meaning of the Valuers Act 1948 (at the expense of the body corporate or, as the case may be, the registered proprietor of the future development unit):
(b) In the event of a dispute arising in respect of any valuation made for the purpose of paragraph (a) of this subsection, the matter shall be determined by arbitration under the Arbitration Act 1908, and the provisions of that Act shall apply accordingly:
(c) Upon cancellation of the plan, the fee simple estate, or (as the case may be) the estate as lessee or licensee in the whole of the land that was comprised in the development (including every future development unit), shall vest—
such shares to be in the proportion that the value of the future development unit (as determined pursuant to paragraph (a) of this subsection) bears to the value of the balance of the development (as so determined):
(d) As between themselves, the persons who are entitled to one undivided share in the land by virtue of paragraph (c)(ii) of this subsection shall be so entitled in the same shares as, by virtue of section 9 of the principal Act, they were interested in the common property immediately before the cancellation of the plan.
(7) Subject to the additions, exclusions, and modifications set out in this Part of this Act, the provisions of the principal Act shall apply in respect of—
Subsection (6)(a) 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”. See sections 55 to 63 for the savings and transitional provisions.