27Lease of certain association property

#### 27 Lease of certain association property 27 Lease of certain association property > > (1) An association may grant a lease of land forming part of its association property if— > > > > > (a) the land is not all of its association property, and > > > > > (b) the lease is registered under the [Real Property Act 1900](/view/html/inforce/current/act-1900-025). > > > (2) The lease— > > > > > (a) must be accompanied by a certificate (an association certificate) in the approved form, and > > > > > (b) must not be registered unless— > > > > > > > (i) the initial period has expired, or > > > > > > > (ii) the grant of the lease has been authorised by the Tribunal. > > > (3) The association certificate must be under the seal of the association and be to the effect that— > > > > > (a) execution of the lease was authorised by special resolution, and > > > > > (b) any interest in the land has been released if— > > > > > > > (i) the lease has not been made subject to the interest, and > > > > > > > (ii) the interest is not a statutory interest or an interest recorded in the Register, and > > > > > > > (iii) the association has notice of the interest, and > > > > > (c) any by-law restricting the use of the association property no longer affects the interest passing under the lease. > > > (4) An association may by special resolution accept a surrender of, or exercise a right of re-entry under, a lease granted by it under this section. > > > (5) In this section— > > > > grant a lease includes grant a sublease or transfer a lease, but only if the sublease or transfer is not in contravention of the lease.