(1) This Act provides for the following matters:
(a) Part 1 sets out the purpose of the Act and its application, and defines terms used in the Act:
(b) subparts 1 to 6 of Part 2 deal with the creation of unit title developments and related matters, in particular—
(i) land and buildings may be subdivided into a unit title development by the deposit of a unit plan by the Registrar-General of Land:
(ii) a unit title development consists of separate units and common property (the common property being the remainder of the land (or building) that is for the use of all the unit owners):
(iii) units are either principal units or accessory units:
(iv) principal units may be places of residence or business (for example, shops) or for other uses:
(v) accessory units are designed for use with a principal unit (for example, a garage or car parking space):
(vi) the legal title that is created in the units is a different estate from the legal title to the underlying land on which the development is built:
(vii) the bundle of legal rights applying to the unit is called a stratum estate:
(viii) a principal unit in a unit title development (for example, a building or part of a building) and its accessory unit may be further subdivided to create another unit title development (this creates a layered unit title development (see section 20 and the illustrations in examples 2 and 3 in Schedule 1)):
(ix) each unit is assigned an ownership interest and a utility interest and that is relevant to the calculation of many of the unit owner’s rights under the Act:
(x) a unit title development may be created in stages, with successive plans deposited by the Registrar-General of Land as the development progresses:
(c) subparts 7 to 11 of Part 2 concern dealings with various parts of the unit title development, in particular—
(i) principal units in a unit title development may be bought and sold individually:
(ii) accessory units are bought and sold with the principal units to which they relate (although they may be transferred between principal unit owners of the unit title development):
(iii) the common property is owned by the body corporate that administers the unit title development, and the unit owners have a beneficial interest:
(iv) the body corporate has the ability to deal with the common property in various ways, for example, selling or leasing it or creating easements and covenants affecting it:
(v) a unit owner has certain abilities to create easements and covenants relating to that unit:
(d) subpart 12 of Part 2 deals with management structures and arrangements in relation to unit title developments, in particular—
(i) each unit title development has a body corporate to administer it:
(ii) generally, the owners of units in a unit title development are the members of the body corporate:
(iii) the principal unit owners and others have certain rights and responsibilities (see sections 79 to 81), and the body corporate has certain powers and duties (see sections 84 to 87):
(iv) there are procedures for meetings of the body corporate and voting at those meetings:
(v) the body corporate has operational rules, which are the day-to-day rules of the unit title development:
(e) subpart 13 of Part 2 deals with the financial and property management of the unit title development, in particular—
(i) the body corporate must have a long-term maintenance plan for the unit title development and must establish various funds to provide for the expenses involved in running the unit title development:
(ii) the body corporate has the power to levy the unit owners to establish and maintain the funds:
(iii) the body corporate must keep financial statements and must insure the unit title development:
(f) subpart 14 of Part 2 deals with disclosure of information in certain cases, in particular—
(i) the seller of a unit must disclose certain information about the unit title development to a buyer or prospective buyer of the unit:
(ii) the original owner of the unit title development (that is, the developer of it) must disclose certain information to the body corporate at the point where the original owner and any associates have sold sufficient units in the development that the original owner and any associates have ceased to have control of 75% of the votes of the body corporate:
(g) Part 3 sets out certain provisions that apply where the estate in the underlying land that the deposited unit plan of subdivision relates to is an estate as lessee or licensee:
(h) subpart 1 of Part 4 relates to disputes, in particular—
(i) the Tenancy Tribunal is the dispute resolution body for unit title disputes below a certain monetary amount that do not relate to the title to land:
(ii) for disputes that involve higher monetary amounts, the District Court and the High Court have jurisdiction:
(iii) if a unit title dispute relates to the title of land, only the High Court has jurisdiction to hear it:
(iv) the persons who have standing to bring a case concerning a unit title dispute include principal unit owners or former owners, the body corporate, occupiers of principal units, and service contractors:
(i) subpart 2 of Part 4 relates to the cancellation of unit plans, which, in general terms, involves the dissolution of the body corporate and the vesting of the interest in the underlying elements of the unit title development in the owners of units:
(j) subpart 3 of Part 4 deals with the procedure for converting a scheme owned by a flat or office owning company or held under a cross-lease arrangement into a unit title development:
(k) subpart 1 of Part 5 contains administrative provisions. The chief executive is responsible for the administration of the Act:
(l) subparts 2 to 5 of Part 5 contain general provisions, including provisions providing for relief for members of the body corporate who represent the minority when voting at a body corporate meeting, and transitional provisions.
(2) This section is by way of explanation only. If a provision of this or any other Act is inconsistent with this section, the other provision prevails.