Commentary on the Sections: Part 1 Termination: voluntary winding-up Section 49: Termination
102.Section 49 provides that, where the Registrar receives notice from the liquidator that he is satisfied with the statement, or receives a copy order from the court in accordance with section 48(4), or an application is made under section 45, the commonhold association will become entitled to be registered as the owner of the freehold interests in all the units (subsection (3)).  Subsection (4) then requires the Registrar to take the appropriate action to give effect to the termination statement.