Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) Two or more basic schemes that are not subsidiary schemes may be amalgamated to form a single new scheme to replace the basic schemes if:
(a) the Tribunal orders the formation of the scheme on application by the body corporate or a unit owner of at least 1 of the basic schemes; or
(b) the body corporate of each of the basic schemes, by a unanimous resolution, agrees to form the new scheme.
Note for subsection (1)
In contrast to an amalgamation under section 71, an amalgamation under this section will result in the termination of the basic schemes.
(2) The order or resolution must provide for the following:
(a) the first scheme statement of the new scheme;
(b) the termination of the basic schemes;
(c) the rights and liabilities accrued in relation to the basic schemes;
(d) other matters prescribed by regulation.
Note for subsection (2)
The bodies corporate of the basic schemes must prepare and lodge the first scheme statement of the new scheme. See section 20(1)(b) and (2)(c).
(3) The Tribunal may make an order under subsection (1)(a) only if the Tribunal considers it is just and equitable to do so.
(4) On the registration of the first scheme statement and the documents required under section 54E of the Land Title Act 2000 :
(a) the basic schemes are terminated and the new scheme is formed; and
(b) the scheme land of the basic schemes become the units and common property of the new scheme as set out in the first scheme statement; and
(c) except as otherwise provided by this Act:
(i) any accrued liability for a tax or charge in relation to the scheme land or body corporate of any of the basic schemes are vested in the new scheme; and
(ii) anything done for any of the basic schemes has effect as if it had been done for the new scheme.
(5) The regulations may provide for a matter arising from this section.