(1) The proprietors of
lots in a survey-strata scheme may resolve by unanimous resolution that the
scheme be terminated in accordance with this section.
(2) Upon the passing
of such a resolution the strata company shall immediately lodge —
notice of the resolution with the Registrar of Titles in the prescribed form;
except in a case where the regulations confer an exemption from the
requirement of this paragraph, a certificate given by the Commission stating
that it consents to the termination of the scheme.
(3) Upon receipt of
the notice referred to in subsection (2), the Registrar of Titles shall
make an entry on the relevant registered survey-strata plan and, where
applicable, on the relevant certificates of title in the manner prescribed.
(4) Where an entry has
been made on the plan under subsection (3), the common property in the
survey-strata scheme may be transferred by the strata company on the authority
of a unanimous resolution of the proprietors of all of the lots in the scheme.
(5) On the transfer of
common property as mentioned in subsection (4) —
proprietors are entitled to the proceeds of the sale of the common property in
shares proportional to the unit entitlements of their respective lots; and
subsections (6) and (7) of section 19 apply.
[Section 30A inserted: No. 58 of 1995