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Capitol BCA - Follow the Leader

Strata Title Management and Body Corporate Administration

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Body corporate 101 – the purpose of the body corporate

June 7, 2018 by Kristina Lucas

Each month we’ll be going back to basics and breaking down some information about body corporates into bite-sized chunks that should help to clarify your understanding of general information about the body corporate. We’re calling it ‘Body Corporate 101’ – this month, read on to find out exactly why bodies corporate exist.

The body corporate is a legal entity and its operations are governed by the Body Corporate and Community Management Act 1997 (the Act).

Put simply, a body corporate is like a company and the owners of each lot are like the shareholders.

Each body corporate has a community management statement (CMS) which contains the body corporate name and community titles scheme (CTS) number, a description of the lots and common property, the entitlements for each lot in the scheme, the by-laws and a list of any easements or exclusive use grants.

The body corporate operates on a financial year that is based around the time that the body corporate was first established; for example, if the body corporate was first registered in March, the body corporate’s financial year would typically be 1 March – 28 February each year. Many of the body corporate’s operations are based around these key financial year dates.

Category: General

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Capitol Body Corporate Administration acknowledges the Traditional Owners of the lands on which we operate. We recognise their unique connection to land, waters, and the environment and extend this recognition and respect to First Nations Peoples and Elders, past and present.


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