New South Wales Consolidated Acts

LOCAL GOVERNMENT ACT 1993 - SECT 547

547 Method of rating dwellings under company title

(1) For the purposes of this Act--

(a) a person who, because of the ownership of shares in a company, is entitled to occupy a dwelling in, or a portion of, a building containing two or more such dwellings or portions is taken to be the owner of land (or two or more persons who, because of the ownership of the shares in a company, are entitled to occupy the same dwelling in or portion of, such a building are taken together to be the owners of land), and

(b) the land value of the land of which the person is (or the persons are) taken to be the owner (or owners) is that proportion of the land value of the land on which the building is erected as the number of shares in the company owned by the person (or persons) bears to the total number of shares issued by the company.

(2) The secretary of such a company must notify the council of--

(a) the names and addresses of owners of shares in the company and of the number of shares issued to each owner, and

(b) changes in ownership of any shares in the company.

(3) A rate or charge, to the extent to which it is payable by the owners of shares in accordance with this section, is not also payable by the company in which those shares are held.

Note : The rating of land under strata title is provided for under the Strata Schemes Development Act 2015 .