Share Blocks Control Act 1980 (Act No. 59 of 1980)Schedule 1 - (Section 8 (3))1. Approval of Development Scheme and Opening of Sectional Title Register in terms of the Sectional Titles ActPreparation of particulars relating to Development Scheme for purposes of the Sectional Titles Act |
When not less than 30 per cent in number of the members of a share block company require the company to apply for the opening, under section 5 of the Sectional Titles Act, of a sectional title register in relation to the property in respect of which it operates a share block scheme, or the directors of the company decide to make such an application, the company shall, notwithstanding anything to the contrary contained in its memorandum or articles—
| (a) | if the property is mortgaged, apply to the mortgagee concerned for his consent contemplated in section 5 (3) (b) of the Sectional Titles Act; |
| (b) | ensure the preparation of such particulars pertaining to a proposed development scheme for purposes of the application, including sketch and other plans pertaining to that proposed scheme, and such rules, if desired, which are to replace the rules contained in Schedules 1 and 2 to the Sectional Titles Act, as the directors of the company may deem necessary for consideration by the members of the company at a general meeting of the company and, if the property is mortgaged, by the mortgagee concerned; and |
| (c) | when the reply of the mortgagee to the application referred to in paragraph (a) has been received and after the particulars and the rules referred to in paragraph (b) have been prepared, cause notice to be given of a meeting of the company at which, with a view to a special resolution contemplated in section 199 of the Companies Act, it will be proposed that a sectional title register be opened under section 5 of the Sectional Titles Act in relation to the property in respect of which the company operates a share block scheme. |