Australian Capital Territory
Unit Titles (Management) Transitional Provisions Regulation 2012
Subordinate Law SL2012-12

The Australian Capital Territory Executive makes the following regulation under the Unit Titles (Management) Act 2011.
Dated 30 March 2012
Simon Corbell
Minister
Katy Gallagher
Minister

Australian Capital Territory
Unit Titles (Management) Transitional Provisions Regulation 2012
Subordinate Law SL2012-12
made under the
Unit Titles (Management) Act 2011

    
    
Contents
	Page
	
	1	Name of regulation	1
	2	Commencement	1
	3	Dictionary	1
	4	Notes	1
	5	Existing sinking funds—contributions	2
	6	Expiry	2
Dictionary		3

1	Name of regulation
This regulation is the Unit Titles (Management) Transitional Provisions Regulation 2012.
2	Commencement
This regulation commences on the commencement of the Unit Titles (Management) Act 2011, section 3.
Note	The naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).
3	Dictionary
The dictionary at the end of this regulation is part of this regulation.
Note 1	The dictionary at the end of this regulation defines certain terms used in this regulation.
Note 2	A definition in the dictionary applies to the entire regulation unless the definition, or another provision of the regulation, provides otherwise or the contrary intention otherwise appears (see Legislation Act, s 155 and s 156 (1)).
4	Notes
A note included in this regulation is explanatory and is not part of this regulation.
Note	See the Legislation Act, s 127 (1), (4) and (5) for the legal status of notes.
5	Existing sinking funds—contributions
	(1)	This section applies to a sinking fund plan—
	(a)	approved by an existing owners corporation under the Unit Titles Act 2001, division 5.4; and
	(b)	that was current immediately before the commencement day.
	(2)	The total sinking fund amount for a financial year is taken to be the sinking fund contribution determined in accordance with the sinking fund plan by the existing owners corporation for that year.
	(3)	Subsection (2) applies to each financial year before the financial year in which the earlier of the following happens:
	(a)	the sinking fund plan is replaced under the Act, section 84 (2); 
	(b)	the sinking fund plan is reviewed under the Act, section 85; 
	(c)	the sinking fund plan is amended under the Act, section 86.
	(4)	In this section:
commencement day means the day the Act, part 12 commences.
existing owners corporation means an owners corporation established under the Unit Titles Act 2001 that is in existence immediately before the commencement day.
Note 1	An existing owners corporation includes a corporation established under the Unit Titles Act 1970 (repealed) and continued in existence under the Unit Titles Act 2001, s 184 (expired).  
Note 2	Establish includes constitute and continue in existence (see Legislation Act, dict, pt 1).
6	Expiry
This regulation expires 5 years after the day it commences.

Dictionary
(see s 3)
Note 1	The Legislation Act contains definitions and other provisions relevant to this regulation.
Note 2	For example, the Legislation Act, dict, pt 1, defines the following terms:
·	definition (see s 130)
·	provision.
Note 3	Terms used in this regulation have the same meaning that they have in the Unit Titles (Management) Act 2011 (see Legislation Act, s 148).  For example, the following terms are defined in the Unit Titles (Management) Act 2011, dict:
·	financial year
·	sinking fund contribution (see s 89 (1))
·	total sinking fund amount.

Endnotes
1	Notification
	Notified under the Legislation Act on 3 April 2012.
2	Republications of amended laws
	For the latest republication of amended laws, see www.legislation.act.gov.au.

© Australian Capital Territory 2012