(1) In addition
operation of any transfer, document or disposition statement referred to in
section 21V; and
creation of any easement under section 5D as read with section 21W,
the registration of a
notice of resolution has the effects described in subsections (2), (3),
(4), (5) and (6).
(2) If any land that
merges into a lot was before registration of a notice of resolution subject
right or privilege granted under by-law 3(f) contained in Part I of the
Schedule to the Strata Titles Act 1966 4 ; or
by-law referred to in section 42(8),
on registration of the
notice of resolution the right or privilege or the by-law ceases to be
applicable to the land that so merges.
(3) Each lot as
enlarged or diminished on registration of the notice of resolution is subject
encumbrance that was registered; or
caveat that was lodged,
with the Registrar of
Titles against the lot before the registration of the notice of resolution.
(4) Each lot or part
of a lot that becomes common property on registration of the notice of
resolution vests in the proprietors to be held by them as tenants in common in
shares proportional to the unit entitlements of their respective lots.
(5) The share of a
proprietor so vested is subject to any encumbrance registered or caveat lodged
with the Registrar of Titles against his lot.
(6) Any encumbrance or
caveat referred to in subsection (3) or (5) is to be taken to be amended
to give effect to that subsection.
[Section 21Y inserted: No. 61 of 1996