A Body Corporate definition
A Body Corporate means a legal body which exists separate and distinct from its members, including, without limitation, companies, building societies, industrial and provident societies, local authorities and bodies incorporated by Act of Parliament or charter, under declaration that unincorporated organisations such as social clubs, branch or political parties or trade unions are not bodies corporate for the purposes of these Articles;
A Body Corporate means a Body Corporate established in terms of The Sectional Titles Act Number 95 of 1986 (as amended) and which is established in respect of a Scheme registered in Terms of that Act which is built on a Unit Erf;
Examples of A Body Corporate in a sentence
A Body Corporate is applicable in respect of the Sectional Title Development of which the Property forms a part, and the Purchaser automatically becomes a member of the Body Corporate on transfer of the unit to the Purchaser.
A Body Corporate is managed by trustees who are elected by the owners at an annual general meeting (AGM).