sec.79Terminating community titles scheme—application for court order

sec.79 Terminating community titles scheme—application for court order

A community titles scheme may be terminated if— an application is made to the court for an order to terminate the scheme by any of the following— the body corporate; the owner of a lot included in the scheme; an administrator appointed under the dispute resolution provisions; and the court decides it is just and equitable to terminate the scheme. In deciding an application under this section, the court must consider the following— if a vote was held—the percentage of lot owners voting in favour of terminating the scheme; if available—the aggregate market value of the common property and individual lots compared to the market value of the scheme as a whole; the economic and social effects of the termination of the scheme on each lot owner; the economic and social effects of the termination on, if applicable— a person who has a leasehold interest in the lot, or other scheme land, created by a lease or sublease for a term of 6 months or more; and the caretaking service contractor for the scheme; and any other person who has a contractual or other arrangement with the body corporate if the court is satisfied the person would be adversely affected by the termination of the scheme; a matter the court is required to consider that is prescribed under the regulation module that applies to the scheme; any other matter the court considers relevant. In deciding an application under this section, the court may do the following— have regard to the views of the following— all registered proprietors of scheme land; a lessee under a registrable or short lease to which scheme land is subject; a local government in whose local government area scheme land is located; if any scheme land is in a priority development area—MEDQ; appoint an administrator and give the administrator authority to put the order into effect in the way directed by the court; make any order, to the extent necessary for the effective termination of the scheme, about termination issues. Without limiting the orders the court may make, if the court considers the appointment of a trustee for the sale or physical division of the property is necessary or desirable, the court may order— the appointment of a trustee; or the removal of a trustee. s 79 sub 2003 No. 6 s 31 ; 2023 No. 29 s 7 (sec.79-ssec.1) A community titles scheme may be terminated if— an application is made to the court for an order to terminate the scheme by any of the following— the body corporate; the owner of a lot included in the scheme; an administrator appointed under the dispute resolution provisions; and the court decides it is just and equitable to terminate the scheme. (sec.79-ssec.2) In deciding an application under this section, the court must consider the following— if a vote was held—the percentage of lot owners voting in favour of terminating the scheme; if available—the aggregate market value of the common property and individual lots compared to the market value of the scheme as a whole; the economic and social effects of the termination of the scheme on each lot owner; the economic and social effects of the termination on, if applicable— a person who has a leasehold interest in the lot, or other scheme land, created by a lease or sublease for a term of 6 months or more; and the caretaking service contractor for the scheme; and any other person who has a contractual or other arrangement with the body corporate if the court is satisfied the person would be adversely affected by the termination of the scheme; a matter the court is required to consider that is prescribed under the regulation module that applies to the scheme; any other matter the court considers relevant. (sec.79-ssec.3) In deciding an application under this section, the court may do the following— have regard to the views of the following— all registered proprietors of scheme land; a lessee under a registrable or short lease to which scheme land is subject; a local government in whose local government area scheme land is located; if any scheme land is in a priority development area—MEDQ; appoint an administrator and give the administrator authority to put the order into effect in the way directed by the court; make any order, to the extent necessary for the effective termination of the scheme, about termination issues. (sec.79-ssec.4) Without limiting the orders the court may make, if the court considers the appointment of a trustee for the sale or physical division of the property is necessary or desirable, the court may order— the appointment of a trustee; or the removal of a trustee.