South Australian Current Acts South Australian Current Acts17AAA—Application for division
(1) A
strata corporation may apply to the Registrar-General for the division of the
site under Part 19AB of the Real Property Act 1886 and for that purpose
the site will be taken to be an allotment within the meaning of Part 19AB and
the strata corporation will be taken to be the registered proprietor of the
site.
(2) The plan of
division lodged with the application must be endorsed with the consent of the
owners of the units comprising the site as well as the consents of the other
persons required by Part 19AB Division 2 of the Real Property Act 1886 .
(3) On deposit of the
plan of division under Part 19AB the strata plan is cancelled, the
strata corporation is dissolved and—
(a) the
liabilities of the former corporation attach directly to the owners of the
former units jointly and severally (but they will be entitled to contribution
amongst each other in proportions determined by reference to the unit
entitlements of the former units);
(b) the
assets of the former strata corporation (excluding the common property) will
be divided between the owners of the former units in proportions determined by
reference to the unit entitlements of the former units.
(4) The cancellation
of a strata plan on the deposit of a plan of division under Part 19AB revokes
the articles of the strata corporation.
(5) If, on the
division of a site under this Division, the land comprising the former site is
transferred to the owners of the former units in the same shares as if the
strata plan had been cancelled under Division 7, no duty is payable under the
Stamp Duties Act 1923 in respect of the transfer.