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Hi Flat chatters
NSW
We have 64 residential lots in our scheme and all up we have 135 lots including parking lots. Can any one tell me how many proxies a person can hold. We have people holding five and six proxies I think they are calculating the five percent including the car park lots, is this correct? If they just calculated the 65 residential lots the person could only hold say 2 proxies I believe.
The other twist is if a person owns five lots including car park lots and one residential lot can they hold a proxy for every lot? or just one per person not per lot? I read the act as one proxy or under five percent per person.
I would be grateful if anyone knows the answer to this one I have had a look in the act but cannot quite find the answer.
Cheers