You'll find the rules and regs at:
http://www.consumer.vic.gov.au/CA256EB5000644CE/page/Buying+%26+Selling+Property-Apartments+%26+Units-New+laws+for+bodies+corporate?OpenDocument&1=50-Buying+%26+Selling+Property~&2=40-Apartments+%26+Units~&3=60-New+laws+for+bodies+corporate~
You are correct...
