Destruction of a building

(1) Where a building is destroyed, (a) the Corporation shall forthwith lodge with the Registrar, in such form as may be prescribed, a notification of such destruction; (b) the Registrar shall, upon receipt of such notification, make, in such form as may be prescribed, an entry thereof on the registered strata plan, and thereafter; (c) the proprietors of all the strata lots contained in such strata plan shall be entitled to the parcel as proprietors in common in shares proportionate to the unit entitlement of their respective strata lots and the provisions of sections 14 and 16 shall apply in relation to the transfer or lease of the parcel and to the creation of any easement or restrictive agreement burdening or benefiting it. (2) For the purposes of this Act, a building referred to in subsection (1) of this section is destroyed, (a) when the proprietors by unanimous resolution so resolve; or (b) when the court is satisfied that, having regard to the rights and interests of the proprietors as a whole, it is just and equitable that such building shall be deemed to have been destroyed, and makes a declaration to that effect. (3) In any case where a declaration has been made pursuant to paragraph (b) of subsection (2) of this section, the court may by order impose such conditions and give such directions (including directions for the payment of money) as it thinks fit for the purpose of adjusting, as between the Corporation and the proprietors and as amongst the proprietors themselves, the effect of the declaration. (4) An application for a declaration under paragraph (b) of subsection (2) of this section may be made to the court by the Corporation or by a proprietor or by a registered chargee of a (5) On any application to the court for a declaration under paragraph (b) of subsection (2) of this section, any insurer who has effected insurance on the building or on any part thereof (being insurance against destruction of strata lots or damage to the building) shall have the right to appear in person or by an attorney-at-law. (6) The court may, on the application of a Corporation or any member thereof or the administrator, by order make provision for the winding-up of the affairs of the Corporation and may, by the same or a subsequent order, declare the Corporation dissolved as on and from a date specified in the order. (7) On any application under this section the court may make such order for the payment of costs as it thinks fit. (8) The court may from time to time vary any order made by it under subsection (3) or subsection (7) of this section.