66Variation of associated development contract

66 Variation of associated development contract

66 Variation of associated development contract

(1) The Supreme Court may also vary an applicable development contract if satisfied that completion of a staged scheme has become impracticable.

(2) An order of the Supreme Court varying a development contract may provide for any 1 or more of the following—

(a) the conversion of a development lot or former development lot to community property or precinct property,

(b) the conversion of a neighbourhood lot to neighbourhood property,

(c) the severance from the scheme of a development lot or neighbourhood lot,

(d) the amendment of the management statement for the scheme,

(e) the persons authorised to sign an instrument for the purposes of any of the matters referred to in paragraphs (a)–(d),

(f) any other matter the Court considers to be appropriate, just and equitable in the circumstances.

(3) In this section—

staged scheme means a scheme for which a development contract is in force.