New South Wales Consolidated Acts

STRATA SCHEMES DEVELOPMENT ACT 2015 - SECT 152

152 Consequences of making order

(1) Subject to section 128 (3), on receiving a certified or office copy of the minute of a variation order or a termination order under Division 3 (including an order relating to an amendment or cancellation of a strata development contract), the Registrar-General must make appropriate recordings in the Register to give effect to the order.

(2) If, on receiving a certified or office copy of the minute of a termination order under Division 3, the Registrar-General is required by subsection (1) to make recordings in the Register, the Registrar-General must--

(a) cancel the folios that evidence title to the lots and common property in the former strata scheme, and

(b) if the scheme is a freehold strata scheme--create a folio for the estate or interest in the former parcel that is vested in the owners corporation on the order taking effect, and

(c) if the scheme is a leasehold strata scheme--record in the folio evidencing the lessor's reversion in the former parcel that the owners corporation is the lessee of the part of the parcel that contained the former lots and common property in the scheme, together with any other estates or interests to which the leasehold estate of the owners corporation in that part continues to be subject.