New South Wales Consolidated Acts
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STRATA SCHEMES DEVELOPMENT ACT 2015 - SECT 105
Effect of strata management statement
(1) A registered strata management statement for a building has effect as an
agreement under seal containing the covenants referred to in subsection (2)
entered into by each person who for the time being is--
owners corporation of a strata scheme for part of the building, or
owner, mortgagee in possession or lessee of a lot in a strata scheme for part
of the building, or
(c) another person in whom is vested the fee simple of a
part of the building or site affected by the statement, or
(d) the mortgagee
in possession or lessee of a part of the building or site referred to in
(2) The covenants referred to in subsection (1) are--
covenant by which the persons jointly and severally agree to carry out their
obligations under the registered strata management statement, and
covenant by which the persons jointly and severally agree to permit the
carrying out of the obligations.
(3) The agreement ceases to have effect
under this Part--
(a) in relation to a person referred to in subsection (1)
(b), (c) or (d), on the person ceasing to be that person, and
(b) in relation
to all persons referred to in subsection (1), on the termination of all
strata schemes to which the strata management statement relates.
Subsection (3) does not prejudice or affect an obligation incurred by, or a
right that accrued to, a person under the agreement while it was in force.
(5) A strata management statement has no effect to the extent that it is
(a) a condition imposed on a planning approval relating to
the site of the building to which the statement relates, or
(b) an order
under Part 12 of the Strata Schemes Management Act 2015 , or
(c) another Act
(6) Subject to this Act and the regulations, a provision in any
instrument under which the agreement is excluded, modified or restricted is
(7) Without limiting subsection (6), a provision of a
strata development contract relating to a strata scheme is void to the extent
that it is inconsistent with a provision of a strata management statement
relating to the scheme.
(8) A covenant entered into under the agreement does
not merge in a transfer of a lot.
(9) This section does not affect a right or
remedy that a person may have under a strata management statement apart from a
right or remedy under this Part.
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