70Consequences of termination order by the Registrar-General

#### 70 Consequences of termination order by the Registrar-General 70 Consequences of termination order by the Registrar-General > > (1) When the Registrar-General makes an order terminating a scheme and the order takes effect— > > > > > (a) the association is dissolved and the scheme is terminated, and > > > > > (b) the former owners are liable for the liabilities of the association, and > > > > > (c) any action taken by or against the association may be continued by or against the former owners, and > > > > > (d) the following vest in the former owners as tenants in common— > > > > > > > (i) the land in the community parcel, precinct parcel or neighbourhood parcel defined in the plan lodged with the application for the order, > > > > > > > (ii) the assets of the association, and > > > > > (e) the Registrar-General is to cancel the folios of the Register that evidenced title to the lots and association property in the scheme immediately before its termination, and > > > > > (f) the estates or interests of the former owners in land vested by paragraph (d) are subject to any estate or interest subsisting on the folios of the Register for the land immediately before the termination, and > > > > > (g) the Registrar-General is to create a folio of the Register for the land in the plan lodged with the application for the order. > > > (2) The liabilities, land and assets vest in the former owners— > > > > > (a) in proportion to the unit entitlement of their lots, or > > > > > (b) as otherwise provided for in the application for termination. > > > (3) Subsections (1) and (2) apply to any subsidiary scheme of the terminated scheme in the same way as they apply to the terminated scheme. > > > (4) The Registrar-General may make appropriate recordings in the Register to give effect to the termination and its consequences. > > > (5) In this section— > > > > former owners means the persons who were the owners of the development lots or neighbourhood lots in the scheme immediately before the termination order took effect.