(1) On registration of
a notice of resolution the scheme to which it relates ceases to be a strata
scheme and becomes registered as a survey-strata scheme under this Act.
(2) In addition
operation of any transfer, document or disposition statement referred to in
section 31H; and
creation of any easement under section 5D as read with section 31G,
the registration of a
notice of resolution also has the effects described in subsections (3),
(4), (5), (6) and (7).
(3) Where any area of
registration of a notice of resolution becomes part of a lot; and
before that registration subject to —
any right or privilege granted under by-law 3(f)
contained in Part I of the Schedule to the Strata Titles Act 1966 4 ; or
a 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 area.
(4) On registration of
the notice of resolution each lot is subject to —
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.
(5) 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.
(6) The share of a
proprietor so vested is subject to any encumbrance registered or caveat lodged
with the Registrar of Titles against his lot.
(7) Any encumbrance or
caveat referred to in this section is to be taken to be amended to give effect
to that section.
[Section 31J inserted by No. 61 of 1996