Termination: miscellaneousE+W
55 Termination by courtE+W
(1)This section applies where the court makes an order by virtue of section 6(6)(c) or 40(3)(d) for all the land in relation to which a commonhold association exercises functions to cease to be commonhold land.
(2)The court shall have the powers which it would have if it were making a winding-up order in respect of the commonhold association.
(3)A person appointed as liquidator by virtue of subsection (2) shall have the powers and duties of a liquidator following the making of a winding-up order by the court in respect of a commonhold association.
(4)But the order of the court by virtue of section 6(6)(c) or 40(3)(d) may—
(a)require the liquidator to exercise his functions in a particular way;
(b)impose additional rights or duties on the liquidator;
(c)modify or remove a right or duty of the liquidator.
56 Release of reserve fundE+W
Section 39(4) shall cease to have effect in relation to a commonhold association (in respect of debts and liabilities accruing at any time) if—
(a)the court makes a winding-up order in respect of the association,
(b)the association passes a voluntary winding-up resolution, or
(c)the court makes an order by virtue of section 6(6)(c) or 40(3)(d) for all the land in relation to which the association exercises functions to cease to be commonhold land.