BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 87
Dissolution of bodies corporate on amalgamation
BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 87
Dissolution of bodies corporate on amalgamation
87 Dissolution of bodies corporate on amalgamation
(1) When schemes A and B are amalgamated, the bodies corporate for schemes A
and B are dissolved.
(2) On dissolution of the bodies corporate for schemes A
and B, the rights and liabilities of the body corporate for schemes A and B
are vested in the body corporate for scheme C.
(3) Body corporate assets for
schemes A and B (including freehold land and other body corporate assets
registered or otherwise held in the name of a dissolved body corporate) are
vested in the body corporate for scheme C, and may be dealt with by the body
corporate as if they were registered or otherwise held in its name.
(4) If
the amalgamation is authorised under a court order, subsections (2) and (3)
have effect subject to the order.
