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Owners Corporations (formerly known as Body Corporates).
An Owners Corporation is created through the process of subdividing buildings or land. The lots created in a plan of subdivision can be disposed of separately. The plan of subdivision may provide for the creation of common property and one or a number of Owners Corporations.
Where a subdivision plan contains common property then an Owners Corporation is required to be created. However, it is also possible to have an Owners Corporation where there is no common property. When the subdivision plan is registered by the Registrar of Titles the Owners Corporation becomes 'incorporated' as a separate legal entity.
The constitution and operations of Owners Corporations are regulated by the:
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Subdivision Act 1988
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Owners Corporation Act 2006
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Subdivision (Body Corporate) Regulations 2001 ( The Subdivision (Body Corporate) Regulations 2001 will "Sunset" on the 10/04/2011 and will be replaced
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Subdivision (Body Corporate) (Amendment) Regulations 2002
and any relevant Subordinate Legislation
The Owners Corporation is responsible for the maintenance and proper working order of the common sanitary drain and common water service serving the allotments and/or common property.
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