162
In forceCancellation of units plan—effects
Part 11Cancellation of units plans
Division 11.3Effects of cancellation
162 Cancellation of units plan—effects
On the registration of a cancellation authority or cancellation order—
(a)
the units plan is cancelled; and
(b)
the owners corporation is dissolved (see section 164); and
(c)
the lease of the common property and the lease of each of the units end; and
(d)
the land covered by those leases forms 1 parcel of land; and
(e)
a new lease arises over that parcel in the terms provided by section 163.
This Act’s bill:Explanatory statementSecond reading speech
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