South Australian Consolidated Acts South Australian Consolidated Acts50—Variation or termination of development contract
(1) A development
contract may be varied or terminated by agreement between the developer (or
the developer's successor in title) and the community corporation but only
if—
(a) in
the case of variation—the contract as varied would not be inconsistent
with a scheme description or by-laws referred to in section 48; or
(b) in
the case of termination—termination of the contract would not be
inconsistent with a scheme description referred to in section 48.
(2) The
community corporation's agreement must be authorised by a special resolution
of its members.
(3) An agreement to
vary a development contract comes into force when the Registrar-General files
a certified copy of the development contract as varied with the deposited
plan of community division.
(4) An agreement to
terminate a development contract comes into force when the Registrar-General
files a certified copy of the agreement with the deposited plan.
(5) Within 14 days
after the passing of a resolution authorising the agreement, the
community corporation must lodge with the Registrar-General a certified copy
of the contract as varied or a certified copy of the agreement to terminate
the contract.
(6) The period for
lodgement cannot be extended by the Registrar-General.
(7) The certified copy
must—
(a) be
endorsed with a certificate, in the form prescribed by regulation, from the
person who prepared the development contract or an officer of the
community corporation certifying that the development contract has been
correctly prepared in accordance with this Act; and
(b) be
accompanied by the fee prescribed by regulation.
(8) The corporation
must provide evidence to the satisfaction of the Registrar-General that the
variation or termination of the contract was authorised by a
special resolution of the corporation.
(9) If the
requirements of this Part are satisfied, the Registrar-General must—
(a) in
the case of variation—file the certified copy of the contract as varied
with the plan of community division in substitution for the copy previously
filed with the plan;
(b) in
the case of termination—file the certified copy of the agreement to
terminate the contract with the plan and rule a line diagonally across each
page of the contract filed with the plan and endorse it prominently
with the word "Terminated".
(10) Copies of the
contract as varied, or the agreement to terminate must be certified in
accordance with the regulations.