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Notice to owners

(3)

Upon receiving the notice, the corporation shall send a copy of it to the owners. 1998,

c. 19, s. 174 (3).

Failure to give notice

(4)

If the lessor does not give the required notice, the lessor shall be deemed to have given

the notice required to renew the leasehold interests for 10 years subject to the same provisions

that govern the leasehold interests before the renewal and the corporation shall send a notice of

that fact to the owners. 1998, c. 19, s. 174 (4).

Owners’ vote for termination

(5)

The leasehold interests shall be renewed for the term and subject to the provisions

specified in the notice or the deemed notice, as the case may be, unless the owners who own at

least 80 per cent of the units cast a vote against the renewal no later than one year after the notice

or the deemed notice, as the case may be, was given to the corporation. 1998, c. 19, s. 174 (5).

Notice of termination

(6)

The corporation shall give notice to the lessor if, under subsection (5), the owners vote

against the renewal. 1998, c. 19, s. 174 (6).

Registration of notice

(7)

The lessor shall prepare a notice in the form prescribed by the Minister stating whether

the leasehold interests have been renewed or not and register the notice in,

(a) the land titles division of the land registry office within the boundaries of which

division the land described in the description is situated, if the land registry office has

a land titles division; or

(b) the registry division of the land registry office within the boundaries of which division

the land described in the description is situated, if the land registry office does not

have a land titles division. 1998, c. 19, s. 174 (7).

New provisions upon renewal

(8)

If the leasehold interests are renewed subject to provisions that are different from those

that applied before the renewal, the declaration shall be deemed to be amended to contain the

provisions that apply upon the renewal and the corporation shall register a copy of the provisions

as an amendment to the declaration. 1998, c. 19, s. 174 (8).

Consent of owners not required

(9)

Section 107 does not apply to an amendment to the declaration if the amendment

complies with subsection (8). 1998, c. 19, s. 174 (9).

Effect of termination or expiration

175. (1)

In the case of a leasehold condominium corporation, upon the registration of a

notice of termination under section 122 or 123, the registration of a deed to the property under

section 124, expropriation under section 126, the registration of an order under section 128 or

173 (or such other date, if any, specified in the registered order) or the registration of a notice

under section 174 that the leasehold interests in the units have not been renewed (or such other

date, if any, specified in the registered notice),

(a) this Act ceases to govern the property;