BODY CORPORATE Sample Clauses
BODY CORPORATE the Body Corporate of the development scheme as referred to in section 2(1) of the Sectional Titles Schemes Management Act, Act 8 of 2011, provided that the functions of the Body Corporate will be administered by the Seller in terms of the Sectional Titles Act (and who is authorised to appoint a managing agent for the interim) until the Body Corporate is formed.
BODY CORPORATE. 19.1 The Body Corporate of the Scheme shall be established in terms of section 36 of the Sectional Titles Act and section 2 of the Sectional Titles Schemes Management Act.
19.2 The Body Corporate will exercise the powers and perform the functions entrusted to it as set out in the Sectional Titles Act, the Retired Persons Act, the Sectional Titles Schemes Management Act and the Rules, and such ancillary functions, which may not be in conflict with the provisions of the said authorities, as may be necessary in pursuit of its objectives.
19.3 The Purchaser acknowledges that on transfer of the Property into its name, it will become a member of the Body Corporate and be obliged to comply with all the obligations imposed upon it by the Rules, the Sectional Titles Act, the Sectional Titles Schemes Management Act and the Retired Persons Act, and that its successors-in-title will be similarly bound.
19.4 It is recorded that the ownership in the Common Property will pass to the Body Corporate on its establishment. The Architect shall prepare a list of patent defects relating to the Common Property, which defects the Seller shall remedy within a reasonable period after the establishment of the Body Corporate. Such defects list will be tabled at the first general meeting of the Body Corporate.
19.5 The Purchaser acknowledges that the Rules provide that the Developer will have the right to elect the majority of the trustees of the Body Corporate throughout the Development Period.
BODY CORPORATE. 14.1 The Seller must ensure that prior to Settlement the Community Management Statement recorded for the Scheme is generally substantially similar to the Community Management Statement contained in the Disclosure Statement, subject to changes allowed under this Contract.
14.2 The Seller has estimated the costs to the owner of each lot in the Scheme in respect of the administration fund levy and sinking fund levy for the first year of the operation of the Body Corporate. That estimate is set out in the proposed budget contained in the Disclosure Statement. The Seller does not warrant that the proposed budget is accurate and is not liable to the Buyer if the Body Corporate adopts a budget different from that proposed by the Seller.
BODY CORPORATE. The Body Corporate created for the Scheme.
BODY CORPORATE. 18.1. The Body Corporate of the Scheme shall be established in terms of Section 36 of the STA and Section 2 of the STSMA.
18.2. The Purchaser acknowledges that on Transfer it will become a member of the Body Corporate and be obliged to comply with all the obligations imposed upon it by the Rules, the STA, the STSMA, and that its successors-in-title will be similarly bound.
18.3. Ownership in the Common Property will pass to the Body Corporate on its establishment.
BODY CORPORATE. The Purchaser shall be liable for levies and costs of electricity, effluent, water and gas (if applicable) from the Occupation Date or Transfer, whichever is the earlier, which amounts shall be payable monthly in advance on the first day of every month.
BODY CORPORATE. Pending the establishment of a Body Corporate as envisaged by section 2 of the Sectional Titles Schemes Management Act, 2011, the Seller shall be entitled/intends to:
15.1. make conduct rules for the use and enjoyment of the units in the Scheme and the Common Property;
15.2. enter the Property at all reasonable times or to authorise its agents or workmen so to enter, to inspect same or to carry out repairs;
15.3. exercise all the rights and powers which a Body Corporate would be entitled to exercise in terms of section 3 of the Sectional Titles Schemes Management Act, 2011 in respect of the building, the land and the owners and/or occupants of sections.
BODY CORPORATE. The Purchaser agrees that -
BODY CORPORATE. 18.1. The Purchaser will become a member of the Body Corporate and become obliged to comply with all the obligations imposed upon him by the Rules, the STA and the STSMA, from the Transfer Date.
18.2. The Seller reserves the right to substitute and/or amend the Rules in terms of Section 10 of the STSMA.
18.3. The Body Corporate will become a member of the BMPOA and the Management Agent will, on behalf of the Body Corporate and BMPOA, collect Levies from the Purchaser for, amongst others, the maintenance of the area under its jurisdiction and/or in respect of services being utilized by the Body Corporate.
18.4. The Seller shall on registration of transfer of the Property to the Purchaser, register a title deed condition against the Property, in terms of which the Property shall not be transferred without the written consent of the BMPOA in terms of the Constitution.
BODY CORPORATE. The Body Corporate referred to in Section 36 of the Act established in respect of the buildings;