Part 7A Flat and office owning companies

Part 7A: inserted, on 1 July 1994, by section 2 of the Land Transfer Amendment Act 1993 (1993 No 124).

121A Interpretation

(1)

In this Part, unless the context otherwise requires,—

company has the same meaning as in section 2(1) of the Companies Act 1993, and, in relation to a licence, means the company by which the licence was issued

constitution has the same meaning as in section 2(1) of the Companies Act 1993

flat or office owning company means a company the constitution of which provides that the registered holder of specified shares in the company is entitled, by virtue of being the holder of those shares, to occupy or use a specified residential flat or office forming part of a building owned by the company

licence to occupy or licence means an instrument (not being an instrument registrable otherwise than pursuant to this Part) whether issued before or after the commencement of this Part, that is executed by a flat or office owning company and by a shareholder and that—

(a)

grants to that shareholder the right to occupy or use a specified office or residential flat by virtue of the shares of which the shareholder is the registered holder; or

(b)

is evidence of the right of that shareholder by virtue of the shares of which the shareholder is the registered holder to occupy or use a specified office or residential flat

office includes premises used or intended to be used for commercial, industrial, business, or professional purposes

share certificate means the certificate issued in respect of the shares to which a licence relates

share register has the same meaning as in section 2(1) of the Companies Act 1993.

(2)

[Repealed]

(3)

A reference in this section to a right to occupy or use a specified office or residential flat includes a reference to any rights conferred by the constitution of the company or the licence to use any garage, outbuilding or other structure, or any passages, stairways, or other appurtenances, services or conveniences of the building of which the flat or office forms part, or the land appurtenant to that building.

Compare: 1964 No 42 s 2

Section 121A: inserted, on 1 July 1994, by section 2 of the Land Transfer Amendment Act 1993 (1993 No 124).

Section 121A(1) company: replaced, on 5 December 2013, by section 14 of the Companies Amendment Act 2013 (2013 No 111).

Section 121A(1) constitution: replaced, on 5 December 2013, by section 14 of the Companies Amendment Act 2013 (2013 No 111).

Section 121A(1) share register: replaced, on 5 December 2013, by section 14 of the Companies Amendment Act 2013 (2013 No 111).

Section 121A(2): repealed, on 5 December 2013, by section 14 of the Companies Amendment Act 2013 (2013 No 111).