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Body corporate
From Wikipedia, the free encyclopedia
In English Law (and as a result, throughout the Commonwealth Realms), body corporate is the legal term for a corporation. It is distinct from a natural person, although it has many of the same legal rights.
A body corporate can be either a corporation sole (consisting of a single person) or a corporation aggregate (consisting of two or more persons). The British Crown is an example of a corporation sole, whereas J Sainsbury plc is an example of a corporation aggregate.
In Australia, the term "body corporate" also refers to a home owners association in Australia charged with the administration of one or more housing units. These associations are incorporated under the relevant property legislation, and thus are bodies corporate in the legal sense. Owners pay a monthly fee to provide for common maintenance and help cover future repair.[1][2]
In the State of Victoria, the new Owners Corporations Act (Act No.: 69/2006) will come into effect from 31 December 2007, replacing the term "body corporate" with "owners corporation".[3]
- ^ Law Institute of Victoria - Property Law - Bodies Corporate. Law Institute of Victoria Limited. Retrieved on 2007-02-13.
- ^ The Body Corporate - An Introduction (PDF). State of Queensland (Department of Tourism, Fair Trading and Wine Industry Development) (2006). Archived from the original on 2006-09-18. Retrieved on 2007-02-13.
- ^ Owners Corporations Act 2006 (Victoria). Retrieved on 2007-03-07.
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