(1) The body corporate may, after a special resolution to do so, grant a lease or licence over part of the common property.
(2) Before granting a lease or licence over part of the common property, a subsidiary body corporate must obtain the consent to the dealing by special resolution from—
(3) A body corporate, other than a subsidiary body corporate, may, after a special resolution to do so, sell part of the common property.
(4) Sections 212 to 216 (which provide for an objection process) apply to a resolution under this section.
(5) In addition to the matters required to be included in the certificate referred to in section 216, the body corporate must also certify that the consents required under subsection (2) have been given.
(6) Unless the body corporate resolves otherwise, any proceeds obtained by the body corporate as a result of any sale, lease, or licence of or over the common property must be distributed to the unit owners.
(7) Proceeds distributed to the unit owners under subsection (6) must be distributed in shares proportional to what was, at the time of the sale, lease, or licence, their ownership interest (including any proposed ownership interest).
(8) Without limiting subsection (6), the body corporate may, with the consent of the owner of a principal unit, offset the payment to that owner against current or future levies payable in respect of that owner’s principal unit.
(9) For the purposes of any sale of common property, the owner of a future development unit that is in use as a place of residence or business or otherwise, in whole or in part, is to be treated as a member of the body corporate.