Where a succession order is made in relation to an insolvent commonhold association this section applies on the making of a winding-up order in respect of the association.
The successor commonhold association shall be entitled to be registered as the proprietor of the freehold estate in the common parts.
The insolvent commonhold association shall for all purposes cease to be treated as the proprietor of the freehold estate in the common parts.
The succession order—
shall make provision as to the treatment of any charge over all or any part of the common parts;
may require the Registrar to take action of a specified kind;
may enable the liquidator to require the Registrar to take action of a specified kind;
may make supplemental or incidental provision.