Ivana Bacik (Independent)

I move amendment No. 24:

In page 6, subsection (6), line 1, to delete "The", where it firstly occurs, and substitute the following:

"Except where the multi-unit development has been completed, the".

This amendment is designed to make section 2(6) compatible with section 9(1). It mirrors the introductory wording of section 3(2), which states: "Except where the multi-unit development has been completed, the transfer...shall reserve the beneficial interest therein". The reference in section 2(6) simply refers to the transfer. We are transposing the words from section 3(2) into section 2(6). That would make the section properly compatible with section 9(1), which deals with the determination of certain beneficial interests on completion of a development. Section 9(1) provides that: "Where a multi-unit development has been completed the owner of any beneficial interest in the common areas and reversion in the units shall as soon as practicable thereafter make a declaration for the benefit of the owners' management company that as respects the development such beneficial interest stands extinguished". The intention is to ensure compatibility between the sections.