(1) Upon the registration of a strata/survey-strata plan, the proprietors from time to time shall constitute a strata company by the name of }The Owners of [the name of the scheme]~ and the number of the strata/survey-strata plan allocated to it by the Registrar of Titles.

(2) A strata company created under subsection (1) is a body corporate with perpetual succession and a common seal.

(2a) For the purposes of subsection (1) the name of the scheme shall be that stated on the strata plan under section 5(1)(d), or on the survey-strata plan under section 5A(1)(e).

(2b) In the case of a strata plan registered before the commencement of section 36 of the Strata Titles Amendment Act 1995 the name of the building endorsed on the plan, or recorded under section 41(2), shall be deemed to be the name of the scheme for the purposes of subsection (1).

(3) A strata company ¾

(a) is capable of suing and being sued;

(b) shall be regulated in accordance with this Act and the by-laws in force in respect of that strata company; and

[(c) deleted]

(d) may do and suffer all things that bodies corporate generally may, by law, do and suffer and that are necessary for or incidental to the purposes for which a strata company is constituted.

(4) The following matters are declared to be excluded matters for the purposes of section 5F of the Corporations Act 2001 of the Commonwealth in relation to the whole of the Corporations legislation to which Part 1.1A of that Act applies ¾

(a) a strata company;

(b) any act or omission of any person, body or other entity in relation to a strata company.

[Section 32 amended by No. 58 of 1995 s.36; No. 10 of 2001 s.189.]