sec.109Order of Supreme Court to extinguish plan

sec.109 Order of Supreme Court to extinguish plan

An application to extinguish a plan may be made to the Supreme Court by— the relevant body corporate; or a proprietor of a lot; or a registered mortgagee of a lot. In considering an application to extinguish a plan, the Supreme Court must have regard to the rights and interests of the proprietors as a whole. If the Supreme Court makes an order extinguishing a plan, it must also order— that the relevant body corporate be wound up; and that— the land comprised in the extinguished plan; and any property of the body corporate; be vested in the proprietors of the lots in the shares that the Supreme Court considers appropriate. (sec.109-ssec.1) An application to extinguish a plan may be made to the Supreme Court by— the relevant body corporate; or a proprietor of a lot; or a registered mortgagee of a lot. (sec.109-ssec.2) In considering an application to extinguish a plan, the Supreme Court must have regard to the rights and interests of the proprietors as a whole. (sec.109-ssec.3) If the Supreme Court makes an order extinguishing a plan, it must also order— that the relevant body corporate be wound up; and that— the land comprised in the extinguished plan; and any property of the body corporate; be vested in the proprietors of the lots in the shares that the Supreme Court considers appropriate.

• (a) the relevant body corporate; or
• (b) a proprietor of a lot; or
• (c) a registered mortgagee of a lot.
• (a) that the relevant body corporate be wound up; and
• (b) that— (i) the land comprised in the extinguished plan; and (ii) any property of the body corporate; be vested in the proprietors of the lots in the shares that the Supreme Court considers appropriate.
• (i) the land comprised in the extinguished plan; and
• (ii) any property of the body corporate;
• (i) the land comprised in the extinguished plan; and
• (ii) any property of the body corporate;