initial period "initial period", in relation to a management corporation, means the period commencing on the day on which the management corporation is formed and ending on the day on which there are proprietors, excluding the proprietor of the lot who is registered as the proprietor of a parcel or parcels or a provisional block or blocks the sum of whose share units is at least one-quarter of the aggregate share units; [Am. Act A1290] ACT 318 - STRATA TITLES ACT 1985 4. Interpretation.