Point in time view as at 01/10/2009.
There are outstanding changes not yet made by the legislation.gov.uk editorial team to Commonhold and Leasehold Reform Act 2002. Any changes that have already been made by the team appear in the content and are referenced with annotations.
(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.
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.
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