sec.54Transfer of lots comprising secondary thoroughfare to principal body corporate

sec.54 Transfer of lots comprising secondary thoroughfare to principal body corporate

Immediately upon registration of a plan of subdivision subdividing an initial lot or part of an initial lot, the registered proprietor of any lot shown on the plan as a secondary thoroughfare shall lodge with the registrar of titles all documents necessary to transfer free of mortgage that lot to the principal body corporate. The principal body corporate shall not be required to make any payment or provide any consideration for such transfer. Nothing in this section shall operate to relieve the applicant of the applicant’s obligation to effect at the applicant’s expense the initial construction of the secondary thoroughfare to the standard prescribed pursuant to section 89 . (sec.54-ssec.1) Immediately upon registration of a plan of subdivision subdividing an initial lot or part of an initial lot, the registered proprietor of any lot shown on the plan as a secondary thoroughfare shall lodge with the registrar of titles all documents necessary to transfer free of mortgage that lot to the principal body corporate. (sec.54-ssec.2) The principal body corporate shall not be required to make any payment or provide any consideration for such transfer. (sec.54-ssec.3) Nothing in this section shall operate to relieve the applicant of the applicant’s obligation to effect at the applicant’s expense the initial construction of the secondary thoroughfare to the standard prescribed pursuant to section 89 .