54GRegistration of documents required for termination of

54G Registration of documents required for termination of development (1) If a development is to be terminated under Part 3, 4 or 5 of the Termination Act, the prescribed fee must be paid to the Registrar- General, and the following documents must be lodged as mentioned in section 19 of that Act: (a) the plan of termination for the development as prescribed by regulation; (b) the written consent of persons as prescribed by regulation; (c) if Part 4 of the Termination Act applies – a certificate from the schemes supervisor stating that there is no impediment to the termination of the development; (d) if applicable, the order of termination of the Tribunal made under section 17, or the order of the Supreme Court made under section 18, of the Termination Act, on or after the day on which it takes effect; (e) the resolution mentioned in section 7 or 11 of the Termination Act. (2) The documents must be lodged by: (a) if Part 3 or 5 of the Termination Act applies – the body corporate of the development; or (b) if Part 4 of the Termination Act applies – the proponent. (3) If the Registrar-General is satisfied that the proposed termination complies with the Termination Act, including that any order for the termination of the development has taken effect under section 17(6) of that Act, the Registrar-General must: (a) register the documents; and (b) cancel the registration of the development; and (c) cancel any particulars in the land register about the development as prescribed by regulation; and

Land Title Act 2000 42 (d) create one indefeasible title for the lot that comprised the development land and register: (i) the persons who were the owners of the units immediately before the termination to be the owners of the lot as tenants in common; and (ii) the interest of each of the persons mentioned in subparagraph (i) in the lot in accordance with the interest entitlements of the development as in force immediately before the termination; and (iii) each person who was the registered proprietor of an easement over the common property of the development immediately before the termination to be the registered proprietor of an easement over the part of the lot that had been the common property as if the easement had originally been over the part of the lot; and (iv) each person who was the registered proprietor of an easement over a unit in the development immediately before the termination to be the registered proprietor of an easement over the part of the lot that had been the unit as if the easement had originally been over the part of the lot; and (v) each person who was the registered proprietor of a mortgage of a unit in the development immediately before the termination to be the registered proprietor of a mortgage of the interest of the person who had been the owner of the unit; and (vi) each person who was the registered proprietor of an interest, other than an interest as lessee or an interest mentioned in subparagraph (iii), (iv) or (v), in a unit or the common property of the development immediately before the termination to be a registered proprietor of the same interest in the equivalent part of the lot; and (vii) any other interest required to be registered by order of the Tribunal. (4) In this section: body corporate, see section 4 of the Termination Act. development, see section 4 of the Termination Act.