(1) This section applies where this Act provides for the distribution to unit owners of proceeds obtained by a body corporate, or of body corporate funds (a distribution of proceeds provision).
(2) A subsidiary body corporate is to be treated as the unit owner of the principal unit that was subdivided to create the subsidiary unit title development.
(3) A subsidiary body corporate to which proceeds are distributed must deal with the proceeds in relation to any subsidiary unit title development below it according to the distribution of proceeds provision and subsection (2).