Tuesday, September 29, 2020

Strata Schemes Management Act 2015 No 50

Part 2
Division 5
Section 28

Termination of strata scheme | Section 28

(1)  An owners corporation for a strata scheme that is subject to an order under the Strata Schemes Development Act 2015 for the termination of the strata scheme continues in existence until it is wound up in accordance with the order.

(2)  While it so continues in existence, the owners corporation is constituted of persons who the order specifies are liable to contribute money required for the discharge of the liabilities of the owners corporation and persons who the order specifies are entitled to share in a distribution of assets of the owners corporation.

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Disclaimer: Reproduced from the Strata Schemes Management Act 2015 . 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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