(1)The scheme may be terminated if—
(a)the body corporate by resolution without dissent decides to terminate the scheme; and
(b)to the extent necessary for the effective termination of the scheme—an agreement about termination issues is entered into between—
(i)all registered proprietors of scheme land; and
(ii)each lessee under a registrable or short lease to which scheme land is subject.
(2)Alternatively, the scheme may be terminated if the District Court decides it is just and equitable to terminate the scheme and makes an order for terminating it.
(3)If the scheme is, or is to be, terminated under an order of the District Court, the court may make an order, to the extent necessary for the effective termination of the scheme, about termination issues.
(4)The court may make an order under subsection (2) or (3) on application by—
(a)the body corporate; or
(b)the owner of a lot included in the scheme; or
(c)an administrator appointed under the dispute resolution provisions.
(5)In making an order under subsection (3), the court may appoint an administrator and give the administrator authority to put the order into effect in the way directed by the court.
(6)In making an order under this section, the court may take into account the views of the following—
(a)a person mentioned in subsection (1)(b);
(b)a local government in whose local government area scheme land is located;
(c)if any scheme land is in a priority development area, MEDQ.
(7)In this section—
short lease see the Land Title Act, schedule 2.