sec.72Reinstatement process under court approval

sec.72 Reinstatement process under court approval

An application may be made to the District Court for approval of a process for reinstating the building in whole or part. The application may be made by 1 or more of the following— the body corporate for a community titles scheme the scheme land for which includes the whole or part of the building; the owner of a lot included in a community titles scheme the scheme land for which includes the whole or part of the building; the registered mortgagee of a lot that is scheme land mentioned in paragraph (a) or (b) . The District Court may approve the process in whole or part. On approving the process, the court may make an order it considers just and equitable— directing how insurance money is to be applied; and directing changes to a community titles scheme, including ordering the lodging of a request to record a new community management statement; and to the extent that paragraph (b) does not apply—directing changes to subdivisional arrangements for the building; and directing payment by or to a body corporate or a lot owner, including requiring a body corporate or lot owner to compensate the owners of lots affected by changes to a community titles scheme or other subdivisional arrangement changes; and dealing with incidental or ancillary issues. Instead of approving a process in whole or in part under this section, the court may make an order for termination or amalgamation in the way permitted under this chapter. An insurer of the building (including of a part of the building) is a party to an application under this section. The body corporate is the respondent to an application made under subsection (2) (b) or (c) . s 72 amd 1999 No. 19 s 3 sch ; 2003 No. 6 s 28 (sec.72-ssec.1) An application may be made to the District Court for approval of a process for reinstating the building in whole or part. (sec.72-ssec.2) The application may be made by 1 or more of the following— the body corporate for a community titles scheme the scheme land for which includes the whole or part of the building; the owner of a lot included in a community titles scheme the scheme land for which includes the whole or part of the building; the registered mortgagee of a lot that is scheme land mentioned in paragraph (a) or (b) . (sec.72-ssec.3) The District Court may approve the process in whole or part. (sec.72-ssec.4) On approving the process, the court may make an order it considers just and equitable— directing how insurance money is to be applied; and directing changes to a community titles scheme, including ordering the lodging of a request to record a new community management statement; and to the extent that paragraph (b) does not apply—directing changes to subdivisional arrangements for the building; and directing payment by or to a body corporate or a lot owner, including requiring a body corporate or lot owner to compensate the owners of lots affected by changes to a community titles scheme or other subdivisional arrangement changes; and dealing with incidental or ancillary issues. (sec.72-ssec.5) Instead of approving a process in whole or in part under this section, the court may make an order for termination or amalgamation in the way permitted under this chapter. (sec.72-ssec.6) An insurer of the building (including of a part of the building) is a party to an application under this section. (sec.72-ssec.7) The body corporate is the respondent to an application made under subsection (2) (b) or (c) .