Saturday, September 26, 2020

Body Corporate And Community Management Act 1997

Chapter 2
Part 10
Division 2
Section 87

Dissolution of bodies corporate on amalgamation | Section 87

(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.

© Sourced from the Queensland Legislation website at 1 April 2020. For the latest information on Queensland Government legislation please go to https://www.legislation.qld.gov.au.

Disclaimer: Reproduced from the Body Corporate and Community Management Act 1997. This website does not give legal advice or other professional advice. You should seek legal or other professional advice before acting and not rely on any of the content on this website.

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