(1) Notwithstanding
anything contained in this Act to the contrary, but subject to subsection (3),
any covenant or agreement affecting or restricting the use of land may be
discharged or modified by agreement by all persons interested in the land
affected by such covenant or agreement consenting to such discharge or
modification.
(2) The Commissioner
shall, when satisfied that all parties interested as aforesaid have agreed to
the discharge or modification of any covenant entered on any certificate of
title in the Register, direct the Registrar to enter a memorandum of the
discharge or modification on each such certificate.
(3) Notwithstanding
subsection (1), the discharge or modification of a restrictive covenant
created under —
(a)
section 129BA shall be in accordance with section 129BB; or
(b) Part
IVA shall be in accordance with section 136J.
[Section 129B inserted: No. 17 of 1950 s. 34;
amended: No. 81 of 1996 s. 75.]