CPA · Condominium Property Act
59 Damage to Building Settlement scheme for damage to building
that is divided into units is damaged but the condominium status is
not terminated pursuant to section 60, an application to settle a
scheme may be made to the Court by the corporation, an owner, a
registered mortgagee of a unit or a vendor under an agreement for
sale of a unit.
(2) On an application under this section, the Court may by order
settle a scheme including provisions
(a) for the reinstatement in whole or in part of the building, or
(b) for transfer of the interests of owners of units that have been
wholly or partially destroyed to the other owners in
proportion to their unit factors.
(3) In the exercise of its powers under subsection (2), the Court
may make those orders as it considers necessary or expedient for
giving effect to the scheme, including orders
(a) directing the application of insurance money received by the
corporation in respect of damage to the building,
(b) directing payment of money by the corporation or by the
owners or by some one or more of them,
(c) directing an amendment of the condominium plan as the
Court thinks fit, so as to include in the common property
any accretion to it, and
(d) imposing any terms and conditions it thinks fit.
(4) On an application to the Court under this section, an insurer
who has effected insurance on the building or any part of it, being
insurance against destruction of units or damage to the building,
has the right to appear in person or by agent or counsel.
RSA 2000 cC-22 s59;2024 c20 s1(26)