New South Wales Consolidated Acts

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STRATA SCHEMES DEVELOPMENT ACT 2015 - SECT 105

Effect of strata management statement

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:
(a) the owners corporation of a strata scheme for part of the building, or
(b) an 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 paragraph (c).
(2) The covenants referred to in subsection (1) are:
(a) a covenant by which the persons jointly and severally agree to carry out their obligations under the registered strata management statement, and
(b) a 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.
(4) 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 inconsistent with:
(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 or law.
(6) Subject to this Act and the regulations, a provision in any instrument under which the agreement is excluded, modified or restricted is void.
(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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