65Variation or termination of scheme

#### 65 Variation or termination of scheme 65 Variation or termination of scheme > > (1) The Supreme Court may vary or terminate a scheme if satisfied that— > > > > > (a) the continuation of the scheme is impracticable, or > > > > > (b) if the scheme is a staged scheme, completion of the staged scheme has become impracticable. > > > (2) The Supreme Court may terminate a scheme and any subsidiary scheme if an application to terminate the scheme is made by— > > > > > (a) the association for the scheme and each subsidiary body, and > > > > > (b) each owner of a lot within the scheme and any subsidiary scheme, and > > > > > (c) each registered mortgagee, chargee and covenant chargee of a lot within the scheme and any subsidiary scheme. > > > (3) An order of the Supreme Court varying or terminating a scheme may provide for any 1 or more of the following— > > > > > (a) the adjustment, exercise and discharge of rights and liabilities under the scheme of an association and its members, > > > > > (b) disposal of the assets of an association or of a strata corporation that is a member of an association, > > > > > (c) the vesting of estates or interests in land within the scheme, > > > > > (d) the winding up of an association or of a strata corporation that is a member of an association, > > > > > (e) a variation of unit entitlement in accordance with a new valuation, > > > > > (f) the amendment of the management statement for the scheme, > > > > > (g) the registration of a new plan or reversion to a former plan, > > > > > (h) any other matter the Court considers to be appropriate, just and equitable in the circumstances. > > > (4) If the Supreme Court orders termination of a scheme, the parcel that was subdivided to constitute the scheme is, for the purposes of section 23F of the [Conveyancing Act 1919](/view/html/inforce/current/act-1919-006), reinstated as a lot in a current plan. > > > (5) Subsection (4) does not apply if the Supreme Court orders the lodgment for registration of a current plan for the parcel. > > > (6) In this section— > > > > staged scheme means a scheme for which a development contract is in force.