Part 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.