Unit Titles Act 2010

188 Cancellation of unit plan by High Court

• (1) The persons described in paragraphs (a) to (f) of section 187(2) have the right to appear and be heard.

  (2) The High Court may authorise that the unit plan be cancelled if—

  • (a) the High Court is satisfied that it is just and equitable that the body corporate be dissolved and the plan cancelled having regard to—

    • (i) the rights and interests of any creditor of the body corporate; and

    • (ii) the rights and interests of every person who has any interest in any unit or in the base land or in any part of the base land; and

  • (b) no principal unit in the unit title development to which the plan relates contains a subsidiary unit title development.

  (3) If the High Court makes a declaration authorising the cancellation of a unit plan under subsection (2), the High Court may by order impose any conditions and give any directions as it thinks fit, for the purpose of giving effect to the declaration, including—

  • (a) directions for the payment of money by or to the body corporate; or

  • (b) the distribution of the assets of the body corporate; or

  • (c) a direction to modify or extinguish, in whole or in part, any registered interest or caveat or notice of claim entered on the register in relation to any unit, the common property, or the base land.

  (4) The High Court may, at any time before the unit plan is cancelled under section 189, vary or modify the terms of any declaration or order made by it under this section.

  (5) The High Court may make any order for payment of costs as it thinks fit.

  Compare: 1972 No 15 s 46