(1) If the leasehold
by-laws provide for postponement of the expiry day for the leasehold scheme,
the expiry day may only be postponed if the postponement is supported by a
resolution as follows —
(a) 14
days’ notice of the terms of the proposed resolution must be given to
each member of the strata company before voting on the resolution opens;
(b) the
resolution must specify a proposed new expiry day (in accordance with the
leasehold by-laws) that is a day that is not more than 99 years after
registration of the scheme;
(c) the
votes in favour of the resolution must equal not less than 75% of the number
of lots in the scheme;
(d) the
resolution must be passed not later than 6 months before the expiry day.
(2) The owner of the
leasehold scheme or an owner of a lot in a leasehold scheme may convene a
general meeting of the strata company to vote on a resolution for postponing
the expiry day for the scheme if the strata company has not done so.
(3) Section 126(a)
does not apply to a vote on a resolution for postponing the expiry day for a
leasehold scheme.
(4) The strata company
must, as soon as reasonably practicable after the passing of a resolution
under this section —
(a)
serve notice of the resolution, in the approved form, on the owner of the
leasehold scheme; and
(b)
apply for registration of an amendment of the scheme notice to give effect to
the postponement of the expiry day.
[Section 41 inserted: No. 30 of 2018 s. 83.]