Western Australian Current Regulations

STRATA TITLES (GENERAL) REGULATIONS 2019 - REG 142

142 .         Winding up of trust

        (1)         The trust must not be wound up until the trustee is satisfied that —

            (a)         all persons entitled to make a claim for funding from the trust have no further claim for funding from the trust; and

            (b)         all outstanding claims for payment from the trust have been paid or resolved.

        (2)         The trustee is entitled to be satisfied that a person will have no further claim for funding from the trust if —

            (a)         the person has confirmed in writing that the person does not intend to make a claim or any further claim for funding from the trust; or

            (b)         the time within which the person may make any claim for funding from the trust has expired.

        (3)         After the trust is wound up, any remaining funds may be paid to the proponent.