26Acquisition of additional association property by lease

26 Acquisition of additional association property by lease

26 Acquisition of additional association property by lease

(1) An association may add land to its association property by lease if—

(a) the land is not part of the scheme parcel, and

(b) the land is contiguous to the scheme parcel, and

(c) the lease is registered under the Real Property Act 1900.

(2) The lease—

(a), (b) (Repealed)

(c) must be accompanied by a certificate under the seal of the association to which the land is to be transferred to the effect that acceptance of the lease was authorised by special resolution, and

(d) if the lease is to a neighbourhood association, must not be registered unless—

(i) the initial period has expired, or

(ii) there is a development contract in force and the lease is in accordance with the contract, or

(iii) the lease has been authorised by the Tribunal.

(3) An association may surrender or vary a lease accepted by it under this section if—

(a) it so decides by special resolution, and

(b) the lessor consents.

(4) In this section—

lease includes—

(a) a sublease, and

(b) a leasehold estate or interest acquired by transfer.

s 26: Am 2022 No 59, Sch 1.5[1].