(1) A strata lease for
a lot in a leasehold scheme commences when the lot is created on the
registration of the leasehold scheme or an amendment of the leasehold scheme
to give effect to a subdivision and expires on the expiry day for the scheme.
(2) A strata lease is
of no effect to the extent that it purports to extend beyond the expiry day
for the scheme.
(3) A strata lease is
not subject to renewal, but its term is extended by postponement of the expiry
day for the scheme.
(4) The fact that the
expiry day may be postponed does not render a strata lease invalid for being
of uncertain duration or for any other reason.
(5) A strata lease is
not subject to forfeiture.
[Section 50 inserted: No. 30 of 2018 s. 83.]
[ 50A, 50B. Deleted: No. 30 of 2018 s. 82(b).]