Body Corporate and Community Management Act 1997
sec.87Dissolution of bodies corporate on amalgamation
Start here
Get a plain-English read of sec.87
Turn the raw legal text into a practical explanation grounded in Body Corporate and Community Management Act 1997.
sec.87 Dissolution of bodies corporate on amalgamation
When schemes A and B are amalgamated, the bodies corporate for schemes A and B are dissolved. On dissolution of the bodies corporate for schemes A and B, the rights and liabilities of the body corporate for schemes A and B are vested in the body corporate for scheme C. Body corporate assets for schemes A and B (including freehold land and other body corporate assets registered or otherwise held in the name of a dissolved body corporate) are vested in the body corporate for scheme C, and may be dealt with by the body corporate as if they were registered or otherwise held in its name. If the amalgamation is authorised under a court order, subsections (2) and (3) have effect subject to the order. (sec.87-ssec.1) When schemes A and B are amalgamated, the bodies corporate for schemes A and B are dissolved. (sec.87-ssec.2) On dissolution of the bodies corporate for schemes A and B, the rights and liabilities of the body corporate for schemes A and B are vested in the body corporate for scheme C. (sec.87-ssec.3) Body corporate assets for schemes A and B (including freehold land and other body corporate assets registered or otherwise held in the name of a dissolved body corporate) are vested in the body corporate for scheme C, and may be dealt with by the body corporate as if they were registered or otherwise held in its name. (sec.87-ssec.4) If the amalgamation is authorised under a court order, subsections (2) and (3) have effect subject to the order.