South Australian Current Regulations

LAND AND BUSINESS (SALE AND CONVEYANCING) REGULATIONS 2010

- under the Land and Business (Sale and Conveyancing)
Act 1994

TABLE OF PROVISIONS

   PART 1--Preliminary

   1.      Short title
   3.      Interpretation

   PART 2--Contracts for sale of land or businesses

   4.      Forms
   5.      Qualified accountant
   6.      Cooling-off--form of certificate of legal practitioner as to independent advice
   7.      Sale of land--instalment agreements
   8.      Sale of land--form of vendor's statement
   9.      Sale of land--particulars required, prescribed encumbrances and prescribed matters
   10.     Sale of small business--form of vendor's statement
   11.     Sale of small business--prescribed particulars
   12.     Sale of small business--form of accountant's certificate
   13.     Sale of land--prescribed inquiries
   14.     Sale of land--form of agent's certificate
   16.     Sale of land--provision of information etc by councils, statutory authorities and prescribed bodies
   17.     Prescribed notice to be given to purchaser
   18.     Defences
   19.     Authority to act as agent
   20.     Requirements relating to offers to purchase residential land
   20A.    Representations as to likely selling price in marketing residential land
   21.     Financial and investment advice
   22.     Agent to disclose certain benefits connected with sale or purchase
   23.     Agent to supply valuation in prescribed circumstances
   24.     Agent not to act for both purchaser and vendor of land or business
   25.     Restriction on obtaining beneficial interest in selling or appraising property
   26.     Standard conditions of auction for residential land
   27.     Preliminary actions and records required for auctions of residential land
   28.     Collusive practices at auctions of land or businesses

   PART 3--Dual representation

   29.     Circumstances in which conveyancer may act for both parties
   30.     Conveyancer must cease to act if conflict of interest arises
   31.     Meaning of conflict of interest

   PART 3A--Service of notices or documents

   31A.    Service by fax or email of vendor's statement, certificate of agent acting on behalf of purchaser or notice of amendment to vendor's statement
   31B.    Method of service of other notices or documents
   31C.    Service by email of signed notices or documents

   PART 4--Miscellaneous

   32.     Keeping of records
           SCHEDULE 1--Contracts for sale of land or businesses--forms
           SCHEDULE 2--Prescribed notice to be given to purchaser
           SCHEDULE 3--Contracts for sale of land or businesses--inquiries
           SCHEDULE 4--Financial and investment advice--specified warning
           SCHEDULE 5--Disclosure of benefits
           SCHEDULE 6--Standard conditions of auction for residential land
           SCHEDULE 7--Collusive practices at auctions of land or businesses
           SCHEDULE 9--Dual representation--forms
           SCHEDULE 10--Transitional provisions
           Legislative history