sec.124Stratum plan of amalgamation

sec.124 Stratum plan of amalgamation

Two or more, or all, stratum lots in a stratum plan may be amalgamated by the registration of a stratum plan of amalgamation. However, a stratum lot that has been subdivided by a building units plan may be amalgamated with another stratum lot only if the building units plan has been extinguished. In registering a stratum plan of amalgamation, the registrar of titles may make any recordings on, and amendments of, the relevant management statement that the registrar of titles considers appropriate to give effect to the plan. For the purposes of sections 132 and 138 (2) (q) , the relevant value proportion for the stratum lot created by the amalgamation of 2 or more stratum lots is the total of the value proportions of the stratum lots. On registration of a stratum plan of amalgamation that amalgamates all of the stratum lots in a stratum plan— the stratum plan is extinguished; and the relevant management statement is terminated. A stratum plan of amalgamation mentioned in subsection (5) must be accompanied by a request to terminate the relevant management statement. The request must comply with the requirements prescribed by regulation. If a stratum plan of amalgamation is accompanied by a request to terminate a management statement, the registrar of titles— must record the termination of the management statement on the stratum plan to which it relates; and may make such other recordings in the register as the registrar of titles considers appropriate to give effect to the termination. s 124 amd 1993 No. 80 s 8 ; 2010 No. 39 s 325 sch 1 pt 2 (sec.124-ssec.1) Two or more, or all, stratum lots in a stratum plan may be amalgamated by the registration of a stratum plan of amalgamation. (sec.124-ssec.2) However, a stratum lot that has been subdivided by a building units plan may be amalgamated with another stratum lot only if the building units plan has been extinguished. (sec.124-ssec.3) In registering a stratum plan of amalgamation, the registrar of titles may make any recordings on, and amendments of, the relevant management statement that the registrar of titles considers appropriate to give effect to the plan. (sec.124-ssec.4) For the purposes of sections 132 and 138 (2) (q) , the relevant value proportion for the stratum lot created by the amalgamation of 2 or more stratum lots is the total of the value proportions of the stratum lots. (sec.124-ssec.5) On registration of a stratum plan of amalgamation that amalgamates all of the stratum lots in a stratum plan— the stratum plan is extinguished; and the relevant management statement is terminated. (sec.124-ssec.6) A stratum plan of amalgamation mentioned in subsection (5) must be accompanied by a request to terminate the relevant management statement. (sec.124-ssec.7) The request must comply with the requirements prescribed by regulation. (sec.124-ssec.8) If a stratum plan of amalgamation is accompanied by a request to terminate a management statement, the registrar of titles— must record the termination of the management statement on the stratum plan to which it relates; and may make such other recordings in the register as the registrar of titles considers appropriate to give effect to the termination.