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BODY CORPORATE AND COMMUNITY MANAGEMENT ACT 1997 - SECT 444
Continuing application of old LSA, part 3
444 Continuing application of old LSA, part 3
(1) Old LSA, part 3 continues to apply in relation to a contract for the sale
of a proposed lot entered into before the commencement as if the amendment Act
had not been enacted.
(2) However, if, at any time before the settlement of a
contract to which the part applies, the parties to the contract agree to
settle the sale using e-conveyancing, the part is to be read with the
following changes— (a) old LSA, section 22(4)(a)—
omit, insert — ‘(a)
the vendor or the vendor’s agent can not require the purchaser to settle;
and’;
(b) old LSA, section 23(1), ‘, without becoming entitled in terms
of the instrument to receive a registrable instrument of transfer in exchange
therefor’—
omit, insert —
‘(but excluding an amount payable at
settlement)’;
(c) old LSA, section 23(4)—
omit;
(d) old LSA,
section 25(2)(a)—
omit, insert — ‘(a) before settlement of the sale of
the proposed lot; or’;
(e) old LSA, section 25(2)(b)(ii)—
omit, insert
— ‘(ii) before settlement of the sale of the proposed lot;’;
(f)
old LSA, section 27, heading—
omit, insert— ‘27 Purchaser’s rights if
purchase not settled within a certain period’;
(g) old LSA,
section 27(1)(b), ‘the vendor has not given the purchaser a registrable
instrument of transfer for the lot’—
omit, insert —
‘the sale of the
proposed lot has not been settled’;
(h) old LSA, section 27(2), ‘before
the vendor gives the purchaser the registrable instrument of transfer for the
proposed lot’—
omit, insert —
‘before the sale of the proposed lot
has been settled’;
(i) old LSA, section 28, heading, ‘for giving of
registrable instrument’—
omit.
(3) In this section—
"e-conveyancing" see the Property Law Act 1974, section 58A .
"old LSA" , followed by a provision number, means the provision with that
number in the Land Sales Act 1984 as in force at any relevant time before the
commencement.
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