New South Wales Consolidated Acts

STRATA SCHEMES DEVELOPMENT ACT 2015 - SECT 47

47 Order about re-entry or forfeiture

(1) If a lessor has brought legal proceedings to enforce a right of re-entry or forfeiture under a lease of a lot in a leasehold strata scheme, the Supreme Court may, on application by a mortgagee, chargee or covenant chargee of the lot make an order--

(a) staying the proceedings on the terms the Supreme Court considers just and equitable, and

(b) vesting, for the remaining term of the lease or a shorter term, the lease of the lot in the mortgagee, chargee or covenant chargee on the conditions the court considers just and equitable, including, for example, conditions relating to--

(i) the execution of a dealing or other document, or

(ii) the payment of rent, or

(iii) costs, expenses, damages or compensation, or

(iv) the giving of a security.

(2) The order may be made--

(a) in proceedings brought for the purpose by the mortgagee, chargee or covenant chargee, or

(b) in the proceedings brought by the lessor that are already in the Supreme Court.