Strata Schemes Development Act 2015

A development scheme to which a strata development contract relates is concluded when any of the following happens—

any planning approval required for carrying out the scheme is revoked,

a strata plan of subdivision that subdivides the last remaining unsubdivided development lot to which the contract relates, or subdivides the residue of that development lot after excision of part of the lot in accordance with the contract, is registered,

the conclusion time for the development scheme arrives,

a notice in the approved form, that complies with subsection (2) and stating that the development scheme to which the contract relates has concluded, is registered,

the strata scheme to which the contract relates is terminated under Part 9 by an order of the Supreme Court.

For the purpose of subsection (1) (d), the notice must—

be signed by the developer, and

be signed by each registered mortgagee, chargee, covenant chargee and lessee of the development lot, and

be lodged with a certificate, given in the approved form by the owners corporation of the strata scheme, certifying that the owners corporation has, by unanimous resolution, agreed that the development scheme has concluded.

In this section—

conclusion time for a development scheme means—

the time predicted by the contract for conclusion of the development scheme, or

if the time referred to in paragraph (a) is changed by an order under section 92—the time provided for under the order.