Common use of BODY CORPORATE Clause in Contracts

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. 19.1 17.1 The Body Corporate of the Scheme shall be has been established in terms of section 36 of the Sectional Titles Act and section 2 of the Sectional Titles Schemes Management Act. 19.2 17.2 The Body Corporate will exercise exercises the powers and perform performs 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 17.3 The Purchaser acknowledges that on transfer of the Property into its name, it will become a member of the Body Corporate and will 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-in- title will be similarly bound. 19.4 17.4 It is recorded that the ownership in the Common Property located within a particular phase will pass to the Body Corporate on its establishmentextension of the Scheme to incorporate the phase. The Architect shall prepare a list of patent defects relating to the this Common Property, which defects the Seller shall remedy within a reasonable period after the establishment registration of ownership of such Common Property in the Body Corporate. Such defects list will be tabled at the first general meeting of the Body Corporate’s name. 19.5 17.5 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. 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-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. 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-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. 19.1 11.1 The Body Corporate of the Scheme shall be established in terms of section Section 36 of the Sectional Titles Act and section Section 2 of the Sectional Titles Schemes Management Act. 19.2 11.2 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 11.3 The Purchaser PURCHASER acknowledges that on transfer of the Property 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, Act and the Sectional Titles Schemes Management Act and the Retired Persons Act, and that its successors-in-title will be similarly bound. 19.4 11.4 It is recorded that the ownership in the Common Property COMMON PROPERTY will pass to the Body Corporate on its establishment. The Architect shall prepare a list of patent defects PATENT DEFECTS relating to the Common PropertyCOMMON PROPERTY, which defects DEFECTs the Seller SELLER shall remedy within a reasonable period after the establishment of the Body Corporate. Such defects DEFECTs list will be tabled at the first general meeting of the Body Corporate. 19.5 11.5 The Purchaser PURCHASER acknowledges that the Rules provide that the Developer SELLER / DEVELOPER will have the right to elect the majority of the trustees of the Body Corporate throughout the Development Period.