• Specific Year
    Any

COMMUNITY LAND DEVELOPMENT ACT 1989 - SECT 70 Variation or termination of scheme by Supreme Court

COMMUNITY LAND DEVELOPMENT ACT 1989 - SECT 70

Variation or termination of scheme by Supreme Court

70 Variation or termination of scheme by Supreme Court

(1) If the Supreme Court is satisfied--
(a) that completion of a staged scheme has become impracticable--the Court may vary any applicable development contract or terminate the scheme, or
(b) that continuation of a scheme (whether or not a staged scheme) has become impracticable--the Court may vary or terminate the scheme, or
(c) that the association of a community scheme, each proprietor of a lot within the community scheme and each registered mortgagee, chargee and covenant chargee of a lot within the community scheme have made an application to the Court to terminate the scheme--the Court may vary or terminate the community scheme and any scheme within the community scheme.
(2) An order of the Supreme Court varying a development contract may provide for--
(a) the conversion of a development lot or former development lot to community property or precinct property, or
(b) the conversion of a neighbourhood lot to neighbourhood property, or
(c) the severance from the scheme of a development lot or a neighbourhood lot, or
(d) any other matter the Court considers to be appropriate, just and equitable in the circumstances.
(3) An order of the Supreme Court varying or terminating a scheme may provide for all or any of the following--
(a) the adjustment, exercise and discharge of rights and liabilities under the scheme of an association and its members,
(b) disposal of the assets of an association or of a strata corporation that is a member of an association,
(c) the vesting of estates or interests in land within the staged scheme,
(d) the winding up of an association or of a strata corporation that is a member of an association,
(e) a variation of unit entitlements in accordance with a new valuation,
(f) the registration of a new plan or reversion to a former plan,
(g) any other matter that the Court considers to be appropriate, just and equitable in the circumstances.
(4) If the Supreme Court orders termination of a scheme, the parcel that was subdivided to constitute the scheme is, for the purposes of section 23F of the Conveyancing Act 1919 , reinstated as a lot in a current plan.
(5) Subsection (4) does not apply if the Supreme Court orders the lodgment for registration of a current plan for the parcel.