123EEffect of building management statement

123E Effect of building management statement (1) A registered building management statement, as amended from time to time, has effect as an agreement under seal containing the covenants mentioned in subsection (2) between the building lessees. (2) The covenants for an agreement mentioned in subsection (1) are covenants by the building lessees to jointly and severally— (a) carry out their obligations under the building management statement; and (b) permit the carrying out of those obligations. (3) The agreement no longer has a binding effect on a person if the person is no longer a building lessee. (4) Subsection (3) does not prejudice or affect any obligation incurred by a person, or any right that accrued to a person, under the agreement while the agreement had effect in relation to the person. (5) A registered building management statement has no effect so far as it is inconsistent with— (a) a condition imposed, before the registration of the statement, on any development approval under the Planning Act 2023 relating to the building or its site affected by the statement; or (b) an environmental authorisation or environment protection order under the Environment Protection Act 1997 relating to the building or its site affected by the statement; or (c) this or any other territory law.