32 Registration with unit-holdersOn registration, where the application includes a statement of the units and unit-holders1, there is no transitional period and the commonhold becomes fully effective at once. Accordingly:32.1 the commonhold association is automatically registered as proprietor of the common parts2;32.2 any charge of the common parts is automatically extinguished3;32.3 any charge of part of a commonhold unit will be extinguished4;32.4 the persons named as the initial unit-holders are automatically registered as freehold proprietors of their respective units5;32.5 the rights and duties
On registration, where the application includes a statement of the units and unit-holders1, there is no transitional period and the commonhold becomes fully effective at once. Accordingly:
the commonhold association is automatically registered as proprietor of the common parts2;
any charge of the common parts is automatically extinguished3;
any charge of part of a commonhold unit will be extinguished4;
the persons named as the initial unit-holders are automatically registered as freehold proprietors of their respective units5;
the rights and duties
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