(1) The proprietor of all the units described in a Declaration shall, upon lodgment of the declaration for recording under section 4(2) be established as a body corporate under the name “The......................... Proprietors Unit Plan No.....................” (the name designating the proprietors Unit Plan being inserted in the first blank space by the person executing the declaration and the appropriate number of the Unit Plan being inserted in the second blank space by the Registrar).
(2) The body corporate shall have perpetual succession and a common seal and be capable of suing and being sued in its name.
(3) The provisions of any enactment providing for the incorporation, regulation and winding-up of companies shall not apply to the body corporate.