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SUBDIVISION ACT 1988 - SECT 32AL Registration of plan of consolidation

SUBDIVISION ACT 1988 - SECT 32AL

Registration of plan of consolidation

    (1)     On the registration of a plan of consolidation of all the land affected by an owners corporation into a single lot—

        (a)     that owners corporation is dissolved; and

        (b)     if the land is also land affected by another owners corporation, that other owners corporation is dissolved; and

        (c)     the land vests in the former lot owners who are members of the owners corporation exercising the power, as tenants in common in proportion to their lot entitlements in that owners corporation, freed from any caveat, mortgage, charge, lease, sub-lease and from any easement under section 12; and

        (d)     the Registrar must create a folio of the Register accordingly.

    (2)     The Registrar must not register a plan referred to in subsection (1) unless satisfied that the owners corporation on the registered plan has no accrued or accruing debts.

Division 4—General provisions relating to plans

S. 32A substituted by No. 69/2006 s. 211.