(1) If the proponent
of a termination proposal makes a decision not to proceed with the proposal,
the proponent must, as soon as reasonably practicable, withdraw the proposal
by written notice to the strata company and, if it is a leasehold scheme, the
owner of the leasehold scheme.
(2) A strata company
that is given written notice of the withdrawal of a termination proposal from
the proponent of the proposal must, within 14 days after being given the
notice —
(a)
serve the notice on each person who is —
(i)
the owner of a lot in the strata titles scheme; or
(ii)
if the full proposal for the termination of the strata
titles scheme has been served by the strata company — the occupier of a
lot or the common property in the strata titles scheme; or
(iii)
a registered mortgagee of a lot in the strata titles
scheme;
and
(b)
lodge with the Registrar of Titles notice of the withdrawal of the proposal in
the approved form.
[Section 186 inserted: No. 30 of 2018 s. 83.]