sec.54HExtinguishing a building management statement

### sec.54H Extinguishing a building management statement A building management statement may be extinguished by registering an instrument of extinguishment of the building management statement. A building management statement may be extinguished in part to remove a lot that is not contained in, or does not contain, a building or a part of a building, by registering an instrument of partial extinguishment of the building management statement. The instrument of extinguishment or partial extinguishment must be signed by the registered owners of all lots to which the building management statement applies. Subsection (3) does not apply if the instrument of extinguishment or partial extinguishment relates to an order of the court under the Property Law Act 2023 , section 181 . However, a building management statement may be extinguished or partially extinguished only if— for a partial extinguishment—all registered mortgagees of a lot to be removed consent to the partial extinguishment; or otherwise—all registered mortgagees of lots to which the building management statement applies consent to the extinguishment. s 54H ins 1997 No. 28 s 295 sch 3 amd 2005 No. 68 s 72 ; 2010 No. 12 s 188 ; 2023 No. 27 s 283 (sec.54H-ssec.1) A building management statement may be extinguished by registering an instrument of extinguishment of the building management statement. (sec.54H-ssec.2) A building management statement may be extinguished in part to remove a lot that is not contained in, or does not contain, a building or a part of a building, by registering an instrument of partial extinguishment of the building management statement. (sec.54H-ssec.3) The instrument of extinguishment or partial extinguishment must be signed by the registered owners of all lots to which the building management statement applies. (sec.54H-ssec.4) Subsection (3) does not apply if the instrument of extinguishment or partial extinguishment relates to an order of the court under the Property Law Act 2023 , section 181 . (sec.54H-ssec.5) However, a building management statement may be extinguished or partially extinguished only if— for a partial extinguishment—all registered mortgagees of a lot to be removed consent to the partial extinguishment; or otherwise—all registered mortgagees of lots to which the building management statement applies consent to the extinguishment. - (a) for a partial extinguishment—all registered mortgagees of a lot to be removed consent to the partial extinguishment; or - (b) otherwise—all registered mortgagees of lots to which the building management statement applies consent to the extinguishment.