Australian Capital Territory Repealed Acts Australian Capital Territory Repealed ActsThis legislation has been repealed.
(a) after the registration of a units plan, a building or other improvement on the parcel is damaged or destroyed;
(b) an order for the cancellation of the units plan has not been made under this Part; and
(c) an application for such an order is not pending,
an application may be made to the Court for an order approving a scheme that makes provision for the reinstatement of the building or other improvement, or, in a case where a unit has been damaged or destroyed, for the elimination of that unit and for any consequential alteration of the units plan.
(2) An application under this section may be made by the corporation, by a majority of the members of the corporation jointly or, if an administrator of the corporation has been appointed, by the administrator.
(3) A copy of an application under this section for the approval of a scheme providing for the elimination of a unit shall be served on the Registrar.
(4) A scheme submitted for the approval of the Court shall include provisions showing—
(a) the proposed reinstatement or elimination;
(b) the manner in which it is proposed to apply insurance moneys paid or payable in respect of the damage or destruction;
(c) the compensation or other moneys to be paid to the proprietor of a unit and any other person who may be adversely affected by the scheme; and
(d) where the scheme provides for the elimination of a unit, the manner in which it is proposed that the units plan be altered, including any necessary alteration of the schedule of unit entitlement, to enable effect to be given to the scheme.
(5) The Court may, on the hearing of an application under this section, make an order approving the scheme if it is satisfied that it is just and equitable to do so and may, in the order, give such directions as it thinks are necessary or expedient to enable effect to be given to the scheme.