Dealing with disputes about value of improvements for leasehold strata schemes
139 Dealing with disputes about value of improvements for leasehold strata schemes
If, in relation to a former lot in a leasehold strata scheme that is terminated by a termination order, there is a dispute about the amount of compensation to be paid for the value of improvements attributable to the lot, the dispute must be resolved—
if provided for under the lease of the lot or the parties to the dispute otherwise agree—by arbitration under the Commercial Arbitration Act 2010, or
otherwise—by order of the court.
An application for an order of the court may be made by any party to the dispute.
Notice of the application must be served, in accordance with rules of court, on the persons directed by the court.
As far as practicable, all applications relating to the same leasehold strata scheme must be heard together.
This Act’s bill:Explanatory memorandumSecond reading speech
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