Victorian Current Acts Victorian Current ActsS. 98C(1) amended by No. 7114 s. 2(1).
(1) The service company in a building subdivision which has entered into a service agreement with the proprietor of any stratum estate therein (whether before or after the commencement of the Transfer of Land (Stratum Estates) Act 1960 ) or the registered proprietor of the stratum estate to which the service agreement relates may lodge the service agreement in the Office of Titles for registration under this Act.
S. 98C(2) amended by Nos 7114 s. 2(2), 9976 s. 11.
(2) A service agreement registered under this Act may be cancelled or varied by agreement of the service company and the registered proprietor for the time being of the stratum estate or of the person for the time being empowered by law to deal with that estate, and such cancellation or variation may be registered by the lodging of an instrument in an appropriate approved form, upon the application of the service company or of the said registered proprietor or person.
S. 98C(2A) inserted by No. 80/2009 s. 51.
(2A) For the purposes of this section, the variation of a service agreement does not include an alteration of—
(a) the length of the term of the service agreement; or
(b) the area to which the service agreement applies.
(3) The following provisions shall have effect in relation to every registered service agreement which is in force (including any such agreement as varied pursuant to the last preceding subsection)—
(a) the rule of law relating to perpetuities shall not apply and shall be deemed never to have applied to any provision of the service agreement; and
(b) all those conditions covenants and agreements set forth in the service agreement (whether positive or negative and whether touching and concerning land or not) which bind or benefit the proprietor of the stratum estate or the service company (as the case may be) shall be binding upon and shall enure for the benefit of—
(i) the person for the time being entitled to receive or who, if the stratum estate were let to a tenant at a rent, would be entitled to receive the rent thereof; or
(ii) the service company and its successors—
(as the case requires) notwithstanding that any such person or successor was not a party to or named in the service agreement or was not in existence at the time of its execution.
S. 98CA inserted by No. 53/1988 s. 45(Sch. 2 item 109) (as amended by No. 47/1989 s. 22(h)(i)–(iii)).