105Effect of strata management statement

#### 105 Effect of strata management statement 105 Effect of strata management statement > > (1) A registered strata management statement for a building has effect as an agreement under seal containing the covenants referred to in subsection (2) entered into by each person who for the time being is— > > > > > (a) the owners corporation of a strata scheme for part of the building, or > > > > > (b) an owner, mortgagee in possession or lessee of a lot in a strata scheme for part of the building, or > > > > > (c) another person in whom is vested the fee simple of a part of the building or site affected by the statement, or > > > > > (d) the mortgagee in possession or lessee of a part of the building or site referred to in paragraph (c). > > > (2) The covenants referred to in subsection (1) are— > > > > > (a) a covenant by which the persons jointly and severally agree to carry out their obligations under the registered strata management statement, and > > > > > (b) a covenant by which the persons jointly and severally agree to permit the carrying out of the obligations. > > > (3) The agreement ceases to have effect under this Part— > > > > > (a) in relation to a person referred to in subsection (1) (b), (c) or (d), on the person ceasing to be that person, and > > > > > (b) in relation to all persons referred to in subsection (1), on the termination of all strata schemes to which the strata management statement relates. > > > (4) Subsection (3) does not prejudice or affect an obligation incurred by, or a right that accrued to, a person under the agreement while it was in force. > > > (5) A strata management statement has no effect to the extent that it is inconsistent with— > > > > > (a) a condition imposed on a planning approval relating to the site of the building to which the statement relates, or > > > > > (b) an order under Part 12 of the [Strata Schemes Management Act 2015](/view/html/inforce/current/act-2015-050), or > > > > > (c) another Act or law. > > > (6) Subject to this Act and the regulations, a provision in any instrument under which the agreement is excluded, modified or restricted is void. > > > (7) Without limiting subsection (6), a provision of a strata development contract relating to a strata scheme is void to the extent that it is inconsistent with a provision of a strata management statement relating to the scheme. > > > (8) A covenant entered into under the agreement does not merge in a transfer of a lot. > > > (9) This section does not affect a right or remedy that a person may have under a strata management statement apart from a right or remedy under this Part.