49Order terminating, or shortening, contract for services to body corporate

49 Order terminating, or shortening, contract for services to body corporate

(1)  If, on an application on grounds referred to in section 37(1)(o) , the Appeal Tribunal is satisfied that an agreement for the provision of services to the body corporate –

(a) is unfair to the owners of 25% or more of the lots; or

(b) is for an excessively long term –

the Appeal Tribunal may make an order terminating, or shortening the term of, the agreement.

(2)  An order under subsection (1) may also require a party to the agreement to pay a specified amount to another party for the purpose of adjusting the rights of the parties in consequence of the termination of, or shortening of the term of, the agreement.