C1Part 1Commonhold
Termination: miscellaneous
55 Termination by court
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 fund
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.
Pt. 1: transfer of functions (11.4.2018) by The Secretaries of State for Health and Social Care and for Housing, Communities and Local Government and Transfer of Functions (Commonhold Land) Order 2018 (S.I. 2018/378), arts. 1(2), 11 (with arts. 12-14)