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BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 78
Termination of schemes
78 Termination of schemes
(1) The scheme may be terminated if— (a) the body corporate by resolution
without dissent decides to terminate the scheme; and
(b) to the extent
necessary for the effective termination of the scheme—an agreement about
termination issues is entered into between— (i) all registered proprietors
of scheme land; and
(ii) each lessee under a registrable or short lease to
which scheme land is subject.
(2) Alternatively, the scheme may be terminated
if the District Court decides it is just and equitable to terminate the
scheme and makes an order for terminating it.
(3) If the scheme is, or is to
be, terminated under an order of the District Court, the court may make an
order, to the extent necessary for the effective termination of the scheme,
about termination issues.
(4) The court may make an order under subsection
(2) or (3) on application by— (a) the body corporate; or
(b) the owner of a
lot included in the scheme; or
(c) an administrator appointed under the
dispute resolution provisions.
(5) In making an order under subsection (3) ,
the court may appoint an administrator and give the administrator authority to
put the order into effect in the way directed by the court.
(6) In making an
order under this section, the court may take into account the views of the
following— (a) a person mentioned in subsection (1) (b) ;
(b) a local
government in whose local government area scheme land is located;
(c) if any
scheme land is in a priority development area, MEDQ.
(7) In this section—
"short lease" see the Land Title Act , schedule 2 .
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