49Binding effect

#### 49 Binding effect 49 Binding effect > > (1) A development contract comes into effect when it is registered. > > > (2) A development contract registered with a scheme plan has effect as if it included an agreement under seal with the covenants set out in subsections (3) and (4)— > > > (3) The developer covenants that the developer must— > > > > > (a) carry out warranted development, and > > > > > (b) carry out development in accordance with— > > > > > > > (i) the covenants set out and implied in the contract, and > > > > > > > (ii) any relevant planning approval. > > > (4) The other parties covenant that the developer will be permitted to carry out, in accordance with the development contract and any relevant planning approval— > > > > > (a) warranted development, and > > > > > (b) authorised proposals. > > > (5) The covenants are given jointly and severally between the developer and each of the other parties. > > > (6) Any attempt to exclude, modify or restrict the operation of the covenants is void. > > > (7) The covenants do not affect any right or remedy a person has otherwise than under the covenants. > > > (8) The covenants do not merge in a transfer. > > > (9) Part 4 of the [Community Land Management Act 2021](/view/html/inforce/current/act-2021-007) does not apply to matters arising under the covenants. > > > (10) In this section— > > > > lot owner, for a scheme, means a person, other than a developer, who is the owner of a development lot or neighbourhood lot within the scheme. > > > > other parties, for a scheme, means— > > > > > (a) the association and any subsidiary bodies, and > > > > > (b) the lot owners, and > > > > > (c) each registered mortgagee, chargee, covenant chargee or lessee of a lot.