Appendix: Definitions and Abbreviation

• AGM – Annual General Meeting
• BCCM Act – Body Corporate and Community Management Act 1997.
• BCM – Body Corporate Manager.
• Budget – the estimated amount of funds required to meet and discharge the obligations of the body corporate.
• By-laws – customised rules for living incommunity titles scheme encapsulated in Schedule C of the CMS for the scheme.
• CMS – Community Management Statement; the registration document of the body corporate setting out the schedule of lot entitlements, by-laws and exclusive use
• CSLE – Contribution Schedule Lot Entitlement.
• EGM – Extraordinary General Meeting.
• ISLE – Interest Schedule Lot Entitlement.
• Lot Owner – the owner of a lot, not necessarily an occupier at the scheme.
• RUM – Resident Unit Manager, sometimes referred to as the building manager or on-site manager. RUM is a term used by the management rights industry. Building manager is a term used by the body corporate industry and on-site manager by the real estate industry. All industries tend to use all terms interchangeably.