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subsection 66 (2) prepared and sections 66 to 71 apply to them. 1998, c. 19, s. 153 (3).

Reserve fund study

(4)

Within the prescribed time following the registration of the amendments to the

declaration and description required for creating a phase, the corporation shall conduct a reserve

fund study in accordance with section 94 with respect to the phase. 1998, c. 19, s. 153 (4).

Termination of agreements

154. (1)

Subject to subsection (2), after the registration of the amendments to the

declaration and description required for creating a phase, a corporation may, by resolution of the

board, terminate an agreement for the management of the property contained in the phase that the

declarant entered into on behalf of the corporation before the registration of the amendments.

1998, c. 19, s. 154 (1).

Notice

(2)

To terminate an agreement, the board shall give at least 60 days notice in writing of the

date of termination to the person with whom the declarant entered into the agreement. 1998,

c. 19, s. 154 (2).

Other agreements

(3)

Subject to subsection (4) and subsection 112 (5), within 12 months following the first

election of the board under section 43 after the registration of the amendments to the declaration

and description required for creating a phase, the corporation may, by resolution of the board,

terminate an agreement described in subsection 112 (2), that the declarant has entered into on

behalf of the corporation before the registration of the amendments and that affects the property

contained in the phase. 1998, c. 19, s. 154 (3).

Notice

(4)

To terminate an agreement, the board shall give at least 60 days notice in writing of the

date of termination to the person with whom the declarant entered into the agreement. 1998,

c. 19, s. 154 (4).

Mutual use agreements

(5)

If a declarant on behalf of a corporation has entered into an agreement for the mutual

use, provision or maintenance or the cost-sharing of facilities or services before the registration

of the amendments to the declaration and description required for creating a phase, and the

agreement affects the property contained in the phase, any party to the agreement may, within 12

months following the first election of the board under section 43 after the registration of the

amendments, make an application to the Superior Court of Justice for an order under subsection

(6). 1998, c. 19, s. 154 (5); 2000, c. 26, Sched. B, s. 7 (7).

Court order

(6)

The court may make an order described in subsection 113 (3) if the requirements of

that subsection are met. 1998, c. 19, s. 154 (6).

PART XII

VACANT LAND CONDOMINIUM CORPORATIONS

Creation

155. (1)

Subject to the regulations made under this Act, a declarant may register a