Section 62
Dissolution of subsidiary management corporation
of Strata Management Ordinance, 2019
—
A subsidiary management corporation for a limited common property may be dissolved and its limited common property shall cease to be designated as a limited common property if—
(a)
by comprehensive resolution, the management corporation constituted in respect of the same development resolves that—
(i)
the subsidiary management corporation be dissolved;
(ii)
the subsidiary management corporation’s limited common property ceases to be designated as
76
limited common property but be part of the common property comprised in that development; and
(iii)
the management corporation shall hold and possess all rights and interests, and be subject to all liabilities and obligations, of the subsidiary management corporation subsisting immediately before the dissolution; or
(b)
by comprehensive resolution, the subsidiary management corporation concerned resolves that—
(i)
it be dissolved;
(ii)
its limited common property ceases to be designated as limited common property but be part of the common property comprised in a development; and
(iii)
the management corporation shall hold and possess all its rights and interests, and be subject to all its liabilities and obligations, subsisting immediately before the dissolution.
(2)
Upon obtaining the comprehensive resolution to dissolve the subsidiary management corporation, the management corporation or subsidiary management corporation as the case may be, shall notify the Commissioner in writing of the decision together with a copy of the resolution.
(3)
The Commissioner shall issue the management corporation or subsidiary management corporation as the case may be, with a certificate confirming his receipt of the copy of the resolution.