Management and Conduct Rules definition
Examples of Management and Conduct Rules in a sentence
The rules consist of the Statutory Management and Conduct Rules in terms of Section 35(2) of the Act, together with any amendments thereto, imposed by the SELLER or adopted by the Body Corporate, and permitted by the Act.
The Purchaser acknowledges that his/her rights as owner of the Property are circumscribed by the provisions of the Sectional Title Act, and the applicable Management and Conduct Rules, and undertakes to abide by them from date of occupation or registration of transfer, whichever date occurs first.
The Management and Conduct Rules as prescribed in Annexure 1 and Annexure 2 of The Sectional Titles Schemes Management Act, 2011 (Act No. 8 of 2011) (the Act) will be applicable to ▇▇▇▇▇▇▇ Place and the purchaser accepts such rules as binding upon himself.
The Trustees are empowered to impose such rules and regulations as may in their sole discretion be necessary for the efficient and proper day to day management and running of the Scheme (the "House Rules") (which House Rules may be imposed in relating, but in no way limited to, the use of security and access, waste removal, visitors' parking bays and recreations areas), provided that the House Rules so imposed will not in any way conflict with the Act or with the Management and Conduct Rules of the Scheme.
The Purchaser shall initial these Management and Conduct Rules, which initialling shall be deemed sufficient proof that the Purchaser has read the said Rules and is bound to the Rules and provisions contained therein.
The Purchaser further acknowledges that this agreement is subject to Management- and Conduct Rules as prescribed in terms of Section 10(2)(a) and (b) of the Sectional Titles Schemes Management Act no.
The Rules contained in Annexures 1 and 2 of the Regulations to the Act shall be amended simultaneously with the opening of the Sectional Title Register; and a copy of these duly amended Rules setting out the proposed changes thereto are attached hereto as Annexure C and both parties signature to this Agreement and initialling of these Rules is deemed for all purposes to be an acknowledgement of sufficient disclosure of the said amendments affected the Management and Conduct Rules for the scheme.
The Purchaser acknowledges that the sale is subject to the provisions of the 1986 Act and that they take transfer of the Property subject to the provisions of the 1986 Act, and in particular the provisions of Section 32(1) (participation quotes), Section 35(1) (existence of a Body Corporate) and Section 35(2)(a) and (b) (provision of Management and Conduct Rules), which shall be binding on the Purchaser.
The Purchaser agrees to abide by the Rules of the Body Corporate (Management and Conduct Rules).
The Purchaser acknowledges that the Purchaser will be bound in relation to the occupancy of the property, and in relation to the use of recreational facilities and the common property, by the Management and Conduct Rules applicable to the Sectional Title Scheme.