17.1 Other agreements
regulations, a corporation may terminate an agreement within 12
months after the time at which its board first consists of directors
who were elected when persons who were at arm's length from the
developer owned or held units representing more than 50% of the
total unit factors for all the units.
(2) Subsection (1) applies despite any term to the contrary in the
agreement to be terminated.
(3) To terminate an agreement under this section, the corporation
must give written notice of the termination date to the other party
to the agreement at least 60 days, or any shorter period specified in
the agreement, before the termination date.
(4) Where a corporation terminates an agreement under this
section, the corporation is not liable to the other party to the
agreement by reason only of the termination of the agreement
under this section.
2014 c10 s12