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CONVEYANCING ACT 1919 - SECT 196I
Effect of building management statement
196I Effect of building management statement
(1) A registered building management statement, as in force for the time
being, has effect as an agreement under seal containing the covenants referred
to in subsection (2) entered into by-- (a) each owner for the time being of
any part of the building or its site affected by the statement, and
(b) any
mortgagee in possession or lessee or sublessee of any part of the building or
its site affected by the statement.
(2) The covenants referred to in this
section are-- (a) a covenant by which those persons jointly and severally
agree to carry out their obligations under the building management statement
as from time to time in force, and
(b) a covenant by which those persons
jointly and severally agree to permit the carrying out of those obligations.
(3) The agreement ceases to have effect under this Division in relation to a
person who is described in subsection (1) on that person ceasing to be a
person so described.
(4) Subsection (3) does not prejudice or affect any
obligation that was incurred by a person, or any right that accrued to a
person, under the agreement while the agreement was in force.
(5) A
registered building management statement has no effect to any extent to which
it is inconsistent with-- (a) any condition imposed, before the registration
of the statement, on a development consent relating to the building to which
the statement relates or its site, or
(b) this or any other Act or any other
law.
(6) Except as may be provided otherwise by this Act or the regulations,
a provision in any instrument under which the agreement is excluded, modified
or restricted is void.
(7) A covenant entered into under the agreement does
not merge in a transfer of a lot.
(8) Nothing in this section affects any
right or remedy that a person may have under a building management statement
apart from a right or remedy under this Division.
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