Section 188U - Strata Schemes Management Act 2015 - Variation or withdrawal of undertaking

188UVariation or withdrawal of undertaking

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188U Variation or withdrawal of undertaking

(1) An owners corporation that enters into an undertaking may, with the written agreement of the Secretary—

(a) vary the undertaking, or

(b) withdraw the undertaking.

(2) Before varying or withdrawing an undertaking under subsection (1), the owners corporation must approve the variation or withdrawal by special resolution.

(3) The Secretary may—

(a) vary an undertaking, with the written agreement of the owners corporation, or

(b) withdraw the Secretary’s acceptance of an undertaking, by written notice served on the owners corporation.

(4) Before agreeing to vary an undertaking under subsection (3)(a), the owners corporation must approve the variation by special resolution.

(5) The provisions of an undertaking may not be varied to provide for a different subject matter.

(6) An undertaking ceases to have effect if—

(a) the undertaking is withdrawn by the owners corporation, or

(b) the acceptance of the undertaking is withdrawn by the Secretary.

(7) In this section—

undertaking means an undertaking under section 188T.

s 188U: Ins 2025 No 14, Sch 1[55].