Act to be binding on apartment owners, tenants, etc..—

(1) All apartment owners, tenant of such owners, employees of apartment owners or tenants, or any other person who may, in any manner, use the property or any part thereof to which this Act applies, shall be subject to the provisions of this Act and the bye-laws and the rules made thereunder.

(2) All agreements, decisions and determinations lawfully made by the society or the Association of Apartment owners, as the case may be, in accordance with the provisions of this Act or the bye-laws shall be deemed to be binding on all apartment owners.