Commentary

127.1 Purpose of termination by voluntary winding up

COMMONHOLD vol 8(1)
| Commentary

127.1 Purpose of termination by voluntary winding up

| Commentary

127 Termination by voluntary winding up: desirability

127.1 Purpose of termination by voluntary winding up

The purpose of the statutory provisions relating to termination of a commonhold by way of a voluntary winding up is, for example, to recognise the eventual demise of a building through old age, or to take advantage of a particular advantageous offer by a developer. In the absence of these provisions each unit-holder would have not merely to agree to the proposed exploitation of the commonhold but would need to be a party to the process. The statutory provisions enable termination to occur with the

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