140Order by Tribunal revoking invalid part of management statement

140 Order by Tribunal revoking invalid part of management statement

140 Order by Tribunal revoking invalid part of management statement

(1) The Tribunal may, on application by a person entitled to vote at a meeting of the association (including a mortgagor as well as a first mortgagee or covenant chargee), by order, revoke so much of a management statement as the Tribunal considers to be invalid.

(2) Without limiting subsection (1), the Tribunal may revoke part of a management statement if the Tribunal is of the opinion that it contains a by-law that is harsh, unconscionable or oppressive.

(3) An order under this section, when recorded under section 205, has effect as if its terms were a provision of a management statement repealing the part of the management statement declared invalid by the order (but subject to any relevant order made by a superior court).