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This is a Bill, not an Act. For current law, see the Acts databases.
TASMANIA
__________
RESIDENTIAL PROPERTY TRANSACTIONS BILL
2013
__________
CONTENTS
PART 1 - PRELIMINARY
1. Short title
2. Commencement
3. Interpretation
4. Application
5. Non-application of Act
6. Crown to be bound
PART 2 - DOCUMENTS TO BE INCLUDED IN A CONTRACT
7. Disclosure documents in relation to residential property
8. Warning notice
9. Purchaser's right to rescind contract for non-compliance with
this Part
10. Vendor must ensure contract complies with this Part
11. Offence to provide false or incorrect disclosure document
12. Purchaser's rights in relation to document supplied by third
parties
PART 3 - ADDITIONAL PURCHASER'S RIGHTS IN RELATION TO
CONTRACTS
13. Purchaser's right to apply for building condition inspection
report
[Bill 17]-I
14. Qualification to the purchaser's right to rescind under
section 13(6)(a)
15. Purchaser's right to apply for a building certificate
16. Purchaser's right to rescind in relation to legal restrictions and
unapproved works in relation to a residential building
17. Purchaser's right to rescind for legal restrictions in relation to
vacant residential land
18. Purchaser's right to rescind if dwelling is damaged or destroyed
PART 4 - PROSPECTIVE BIDDER'S RIGHTS BEFORE PUBLIC
AUCTION
19. Prospective bidder's right to arrange building inspection
PART 5 - COOLING-OFF PERIOD
20. Cooling-off period
21. Commencement and ending of cooling-off period
22. Right to rescind contract during cooling-off period
23. Contract to contain statement regarding cooling-off period
PART 6 - MISCELLANEOUS PROVISIONS
24. Property agent to provide copy of contract
25. Documents included as part of contract
26. Dating of contracts
27. Contracting out, &c.
28. Waiver
29. Purchaser's other rights not affected
30. Notices
31. Consequences of rescission
32. Conveyancing and Law of Property Act 1884 not affected
33. Regulations
34. Administration of Act
35. Consequential amendments
SCHEDULE 1 - FORMS
SCHEDULE 2 - CONSEQUENTIAL AMENDMENTS
2
RESIDENTIAL PROPERTY TRANSACTIONS BILL
2013
(Brought in by the Minister for Corrections and Consumer
Protection, the Honourable Nicholas James McKim)
A BILL FOR
An Act to make provision in relation to the sale of
residential property, and for other related purposes
Be it enacted by His Excellency the Governor of Tasmania, by
and with the advice and consent of the Legislative Council and
House of Assembly, in Parliament assembled, as follows:
PART 1 - PRELIMINARY
1. Short title
This Act may be cited as the Residential
Property Transactions Act 2013.
2. Commencement
The provisions of this Act commence on a day
or days to be proclaimed.
3. Interpretation
(1) In this Act, unless the contrary intention
appears -
asbestos means any or any combination of the
fibrous form of mineral silicates that
[Bill 17] 3
Residential Property Transactions Act 2013
Act No. of
s. 3 Part 1 - Preliminary
belong to the serpentine or amphibole
groups of rock-forming minerals;
auction time means the publicly advertised
time at which a public auction is to be
held;
building includes part of a building;
building certificate means a building
certificate referred to in section 119 of
the Building Act 2000;
building defect in relation to a residential
building means -
(a) a defect that makes the building
unfit for normal human
habitation; or
(b) a safety, structural, roofing,
electrical, plumbing or drainage
defect that affects the building; or
(c) a part of the building that is
affected by damp; or
(d) damage to the building caused by
wood decay or insects; or
(e) a part of the building that
includes asbestos that is in an
unsafe condition;
building condition inspection report means a
report as to the condition of a residential
building obtained, or to be obtained, from
a building inspector;
4
Residential Property Transactions Act 2013
Act No. of
Part 1 - Preliminary s. 3
building inspector means -
(a) an accredited building
practitioner within the meaning
of the Building Act 2000; or
(b) a prescribed person;
building work has the same meaning as in the
Building Act 2000;
business day means, in relation to a matter
concerning a contract or public auction
for the sale of residential property, any
day excluding Easter Tuesday, a
Saturday, a Sunday, a statutory holiday
for the purposes of the Statutory
Holidays Act 2000 observed in the
locality of that residential property, and
any day in the period commencing on 27
December and ending on 31 December;
conveyancer has the same meaning as in the
Conveyancing Act 2004;
dealing has the same meaning as in the Land
Titles Act 1980;
Director means the Director of Consumer
Affairs and Fair Trading within the
meaning of the Consumer Affairs Act
1988;
disclosure document means a document
required to be included in a contract for
the sale of residential property in
accordance with section 7;
5
Residential Property Transactions Act 2013
Act No. of
s. 3 Part 1 - Preliminary
land includes a lot created, or to be created, by
the registration of a strata plan within the
meaning of the Strata Titles Act 1998;
legal practitioner means an Australian legal
practitioner within the meaning of the
Legal Profession Act 2007;
plumbing work has the same meaning as in
the Building Act 2000;
pre-auction period means, in relation to
residential property that is advertised for
sale by public auction, the period
commencing on the day that is 5 clear
business days before the auction time for
that public auction and ending
immediately before that time;
property agent has the same meaning as in the
Property Agents and Land Transactions
Act 2005;
public auction means an auction that has been
publicly advertised;
purchaser means a person who agrees to
purchase land pursuant to a contract for
the sale of land;
Register has the same meaning as in the Land
Titles Act 1980;
related person has the same meaning as in the
Duties Act 2001;
6
Residential Property Transactions Act 2013
Act No. of
Part 1 - Preliminary s. 3
residential building means a building affixed
to land that is used, or currently designed
or adapted for use, as a dwelling, and
includes inground swimming pools,
outdoor decks, patios, retaining walls,
carports, and garages, that are incidental
to any such use;
residential land means -
(a) land on which there is under
construction a building that is
designed for use as a dwelling; or
(b) land which is the subject of a
contract for sale that includes
provisions to the effect that a
building designed for use as a
dwelling must be constructed on
the land prior to the completion
of the contract; or
(c) land which is the subject of a
contract for sale that includes
provisions to the effect that the
purchaser is not required to
complete the contract unless the
land can be used for the purposes
of constructing a dwelling or as a
residential building allotment; or
(d) vacant land on which the
construction of a residential
building alone is not prohibited
by law;
residential property means -
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Residential Property Transactions Act 2013
Act No. of
s. 4 Part 1 - Preliminary
(a) land on which there is a
residential building; or
(b) residential land;
vendor means a person who agrees to sell land
pursuant to a contract for the sale of land.
(2) For the avoidance of doubt, a residential building
does not include a fence, glasshouse, garden
shed, separate workshop building or separate
workshop shed or outdoor garden structure.
4. Application
This Act applies to a contract for the sale of
residential property made on or after the date on
which this section commences.
5. Non-application of Act
(1) This Act does not apply to a contract for the sale
of residential property if -
(a) the contract arises from the exercise of an
option to purchase the property and -
(i) the option was contained in a
will; or
(ii) the option was contained in a
residential tenancy agreement,
within the meaning of the
Residential Tenancy Act 1997, to
which that Act applies, or a lease,
entered into at least 6 months
8
Residential Property Transactions Act 2013
Act No. of
Part 1 - Preliminary s. 5
prior to the date on which the
contract is made; or
(iii) the period for the exercise of the
option by the purchaser was
longer than 60 days; or
(iv) the option was granted before the
commencement of this section; or
(b) the contract arises from the acceptance of
a tender that is lodged after the
commencement of this section in
response to an invitation calling for
tenders that was issued before the
commencement of this section; or
(c) the purchaser is a related person of the
vendor and the contract includes a
provision stating that this Act does not
apply to the contract because the
purchaser is a related person of the
vendor; or
(d) the purchase price payable under the
contract exceeds the prescribed amount
and -
(i) the purchaser is purchasing the
property predominantly for
investment purposes; and
(ii) the contract includes a provision
stating that the purchaser is
purchasing the residential
property predominantly for
investment purposes and that this
9
Residential Property Transactions Act 2013
Act No. of
s. 5 Part 1 - Preliminary
Act does not apply to the
contract; or
(e) the contract is for the sale of 3 or more
residential properties by the same vendor
to the same purchaser.
(2) This Act does not apply to a contract for the sale
of land, whether or not the land includes
residential building, if -
(a) the area of land exceeds 20 hectares; or
(b) the land is predominantly used to
conduct a business that does not involve
the leasing of that land, and that
business, or a substantial part of the
business, is being sold as part of the
same transaction for the sale of that land.
(3) This Act does not apply to a contract for the sale
of residential property if the application of this
Act to the contract is wholly excluded in
accordance with section 27.
(4) This Act does not apply to a contract for the sale
of residential land that does not include a
residential building if -
(a) the residential land adjoins another parcel
of land owned by the purchaser at the
date on which the contract is made; and
(b) the residential land is to be adhered to all
or part of that other parcel of land.
10
Residential Property Transactions Act 2013
Act No. of
Part 1 - Preliminary s. 6
(5) This Act does not apply to a contract for the sale
of a share or shares in a company that confers on
the owner of the share or shares an exclusive
right to occupy part of a building on land owned
by the company.
(6) This Act does not apply to a contract of a kind
prescribed by the regulations.
(7) For the avoidance of doubt, this Act does not
apply to a disposition of residential property by
way of -
(a) a residential tenancy agreement within
the meaning of the Residential Tenancy
Act 1997 to which that Act applies; or
(b) a grant of a lease, licence or easement.
6. Crown to be bound
This Act binds the Crown not only in right of
Tasmania but also, so far as the legislative power
of Parliament permits, the Crown in all its other
capacities.
11
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Act No. of
s. 7 Part 2 - Documents to be Included in a Contract
PART 2 - DOCUMENTS TO BE INCLUDED IN A
CONTRACT
7. Disclosure documents in relation to residential
property
(1) A contract for the sale of residential property
that is registered land under the Land Titles Act
1980, and for which a separate title exists at the
date on which the contract is made, must include
the following documents as part of the contract:
(a) a copy of a search of the relevant folio of
the Register for the residential property,
being a search dated not more than 6
months before the date on which the
contract is made;
(b) a copy of the plan, diagram or
conveyance referred to in the folio of the
Register to describe the residential
property;
(c) a copy of each dealing shown in schedule
2 of that search other than a registered
mortgage or registered encumbrance;
(d) a copy of any agreement made under Part
5 of the Land Use Planning and
Approvals Act 1993 in relation to the
residential property;
(e) a copy of a certificate issued under
section 337 of the Local Government Act
1993 in respect of the residential
12
Residential Property Transactions Act 2013
Act No. of
Part 2 - Documents to be Included in a Contract s. 7
property, being a certificate dated not
more than 9 months before the date on
which the contract is made;
(f) a copy of a certificate issued under
section 56ZQ of the Water and Sewerage
Industry Act 2008 in respect of the
residential property, being a certificate
dated not more than 9 months before the
date on which the contract is made;
(g) if the residential property is also a lot as
part of a strata scheme within the
meaning of the Strata Titles Act 1998,
then, subject to subsection (2) -
(i) a copy of the by-laws for the
strata scheme if different from the
by-laws set out in Schedule 1 to
that Act; and
(ii) a copy of a certificate under
section 83(5) of that Act in
relation to the residential
property, being a certificate dated
not more than 6 months before
the date on which the contract is
made; and
(iii) written evidence, dated not more
than 6 months before the date on
which the contract is made,
showing the insurances held by
the body corporate for the strata
scheme; and
13
Residential Property Transactions Act 2013
Act No. of
s. 7 Part 2 - Documents to be Included in a Contract
(iv) a statement signed by the vendor
showing the names and contact
details of the secretary or
manager of the body corporate or,
if no such person exists, a
statement to that effect.
(2) A vendor is not required to include in a contract
a document mentioned in subsection (1)(g) if -
(a) the document is not available to the
vendor after making reasonable efforts to
obtain it; or
(b) the document does not exist because the
body corporate for the strata scheme is
not active.
(3) If subsection (2) applies, the contract for the sale
of the residential property must also include a
statement signed by the vendor stating the
reasons why a document mentioned in
subsection (1)(g) is not available to be included
in the contract.
(4) A contract for the sale of residential property
that is general law land that is not to be
subdivided before the completion of the contract
must include the following documents as part of
the contract:
(a) a copy of all deeds necessary to establish
that the vendor has title to the residential
property;
14
Residential Property Transactions Act 2013
Act No. of
Part 2 - Documents to be Included in a Contract s. 7
(b) a copy of all deeds containing easements
or covenants that affect the residential
property;
(c) a copy of any agreement made under Part
5 of the Land Use Planning and
Approvals Act 1993 in relation to the
residential property;
(d) a copy of a certificate issued under
section 337 of the Local Government Act
1993 in respect of the residential
property, being a certificate dated not
more than 6 months before the date on
which the contract is made;
(e) a copy of a certificate issued under
section 56ZQ of the Water and Sewerage
Industry Act 2008 in respect of the
residential property, being a certificate
dated not more than 6 months before the
date on which the contract is made.
(5) A contract for the sale of residential property for
which a separate title does not exist at the date
on which the contract is made must include the
following documents as part of the contract:
(a) a copy of a plan that identifies the
residential property;
(b) any other prescribed document.
(6) A contract for the sale of residential property is
to include a provision that describes or lists each
disclosure document that is included in the
contract as mentioned in section 25.
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Act No. of
s. 8 Part 2 - Documents to be Included in a Contract
(7) The inclusion of a disclosure document in a
contract for the sale of residential property is
taken not to constitute notice by the vendor to
the purchaser, or acceptance by the purchaser,
of -
(a) any defect in the vendor's title that may
be disclosed or evidenced by a disclosure
document; or
(b) any restriction that may hinder or prevent
the use of the property for a purpose set
out in the contract.
8. Warning notice
(1) A contract for the sale of residential property
must include a warning notice in the form
required by this section.
(2) Subject to subsection (3), the warning notice is
to be in accordance with Form 1 in Schedule 1.
(3) If the contract does not have a cooling-off
period, the warning notice is to be in accordance
with Form 2 in Schedule 1.
(4) The warning notice -
(a) must be printed in at least 12-point type;
and
(b) must be set out on a separate page of the
contract that is signed and dated by the
purchaser.
16
Residential Property Transactions Act 2013
Act No. of
Part 2 - Documents to be Included in a Contract s. 9
(5) For the purposes of subsection (4)(b), the
separate page of the contract may include the
information statement required by section 23.
9. Purchaser's right to rescind contract for non-
compliance with this Part
(1) Subject to subsection (2), if a contract for the
sale of residential property does not comply with
this Part, the purchaser under the contract may,
at any time before the relevant date, rescind the
contract by giving written notice to the vendor.
(2) A purchaser may not rescind a contract under
subsection (1) for non-compliance that occurs
because of the omission from a contract of a
disclosure document, or part of a disclosure
document, unless -
(a) the disclosure document, or part of the
disclosure document, that is omitted
concerns the existence of a matter
affecting or relating to the residential
property; and
(b) the purchaser was unaware of the
existence of the matter when the contract
was entered into; and
(c) the matter is such that the purchaser
would not have entered into the contract
had he or she been aware of its existence.
(3) For the purposes of subsection (1), the -
relevant date is -
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Residential Property Transactions Act 2013
Act No. of
s. 10 Part 2 - Documents to be Included in a Contract
(a) if paragraph (b) does not apply,
the date of completion of the
contract; or
(b) if the vendor gives written notice
to the purchaser's legal
practitioner or conveyancer
setting out the details of a matter
in respect of which the contract
does not comply with this Part,
the earlier of the following dates:
(i) the date 5 business days
after the date of the giving
of that notice;
(ii) the date of completion of
the contract.
(4) A notice under paragraph (b) of the
definition of relevant date in subsection (3) -
(a) cannot be given earlier than the first
business day after the date on which the
contract is made; and
(b) is of no effect unless the notice states that
it is a notice for the purposes of this
section.
10. Vendor must ensure contract complies with this
Part
(1) A vendor must ensure that a contract for the sale
of residential property to which the vendor is a
18
Residential Property Transactions Act 2013
Act No. of
Part 2 - Documents to be Included in a Contract s. 11
party complies with the requirements of this
Part.
Penalty: Fine not exceeding 50 penalty units.
(2) In any proceedings against a vendor for failure to
comply with subsection (1), it is a defence if the
vendor proves that he or she had reasonable
grounds to believe, and did believe, that a
property agent, legal practitioner or conveyancer
was responsible for ensuring that the contract
complied with the requirements of this Part.
(3) Subsection (1) does not apply to the extent that
the application of this Part to the contract is
excluded, changed or restricted as provided by
section 27.
11. Offence to provide false or incorrect disclosure
document
(1) For the purposes of this section -
incorrect, in relation to a disclosure
document, means being incorrect in
relation to a material particular as at the
date of the disclosure document.
(2) A vendor, or a person acting on behalf of a
vendor, who knowingly includes in a contract for
the sale of residential property a disclosure
document that is false, misleading or incorrect, is
guilty of an offence.
Penalty: Fine not exceeding 50 penalty units.
19
Residential Property Transactions Act 2013
Act No. of
s. 12 Part 2 - Documents to be Included in a Contract
(3) A person who is guilty of an offence under
subsection (2) must compensate the purchaser
under that contract for any loss or expense
suffered by the purchaser as a result of the
disclosure document being false, misleading or
incorrect.
(4) Subsection (2) does not apply to the extent that
the contract for the sale of the residential
property includes a statement by the vendor -
(a) stating that a required document is, to the
vendor's knowledge, false, misleading or
incorrect; and
(b) setting out, or referring to, that material
particular.
12. Purchaser's rights in relation to document supplied
by third parties
(1) This section applies if -
(a) a purchaser buys residential property
under a contract; and
(b) the contract includes a disclosure
document referred to in section 7(1)(e),
(f) or (g)(ii) or section 7(4)(d) or (e); and
(c) the disclosure document was incorrect, at
the date it was prepared, or was prepared
without the exercise of reasonable skill
and care.
(2) The purchaser may exercise, in respect of a
disclosure document referred to in
20
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Act No. of
Part 2 - Documents to be Included in a Contract s. 12
subsection (1)(b), the rights, powers and
immunities that the purchaser would have had if
the disclosure document had been issued to the
purchaser.
21
Residential Property Transactions Act 2013
Act No. of
s. 13 Part 3 - Additional Purchaser's Rights in Relation to Contracts
PART 3 - ADDITIONAL PURCHASER'S RIGHTS IN
RELATION TO CONTRACTS
13. Purchaser's right to apply for building condition
inspection report
(1) This section applies to a contract for the sale of
residential property that -
(a) includes a residential building; and
(b) is not a contract referred to in
section 20(2)(a).
(2) The purchaser under a contract to which this
section applies has the right, during the period
commencing on the date on which the contract is
made and ending on the fifth business day after
that date, to arrange for a building condition
inspection report to be provided in relation to the
residential building.
(3) A purchaser who exercises the right referred to
in subsection (2), as soon as practicable after the
exercising of that right, is to give written notice
to the vendor that the purchaser has done so.
(4) A vendor who receives a notice under
subsection (3) must allow reasonable access to
the residential property at reasonable times to
enable a building inspector to inspect the
residential building for the purpose of providing
a building condition inspection report to the
purchaser.
22
Residential Property Transactions Act 2013
Act No. of
Part 3 - Additional Purchaser's Rights in Relation to Contracts s. 13
(5) A breach by the vendor of the vendor's
obligations under subsection (4) is taken to be a
breach of the contract for the sale of the
residential property by the vendor and in respect
of which the purchaser may exercise the same
rights as the purchaser would have had as if this
section had been included as part of the contract.
(6) Subject to subsection (7) and section 14(1), a
purchaser who exercises the right in
subsection (2) to obtain a building condition
inspection report may rescind the contract by
written notice to the vendor if -
(a) the building condition inspection report
received by the purchaser states that -
(i) the residential building has one or
more building defects; and
(ii) in the opinion of the author of the
report, the reasonable cost of
making good those defects will
exceed 1% of the purchase price
payable under the contract; or
(b) the building condition inspection report
has not been received by the purchaser
by the end date; or
(c) the vendor without reasonable excuse
does not allow access to the property for
the purpose of enabling the building
inspector to inspect the property.
(7) A purchaser cannot exercise the right to rescind
referred to in subsection (6) -
23
Residential Property Transactions Act 2013
Act No. of
s. 14 Part 3 - Additional Purchaser's Rights in Relation to Contracts
(a) after the completion of the contract; or
(b) later than 5 p.m. on the second business
day after the end date.
(8) A purchaser's notice rescinding a contract in
accordance with subsection (6)(a) is to be
accompanied by a copy of the building condition
inspection report obtained by the purchaser.
(9) In this section -
end date means the tenth business day after
the date on which the contract is made or
a later date agreed to in writing by the
vendor.
14. Qualification to the purchaser's right to rescind
under section 13(6)(a)
(1) A purchaser cannot exercise the right to rescind
referred to in section 13(6)(a) in relation to a
building defect described in the building
condition inspection report obtained by the
purchaser if -
(a) the nature, extent and approximate
location of that building defect was
described in reasonable detail in a
building condition inspection report
included as part of the contract in
accordance with subsection (2); and
(b) the building condition inspection report
referred to in paragraph (a) states an
opinion by the author of the report as to
24
Residential Property Transactions Act 2013
Act No. of
Part 3 - Additional Purchaser's Rights in Relation to Contracts s. 14
the estimated cost of rectifying that
defect; and
(c) the difference, if any, between -
(i) the cost of making good all
defects identified in the building
condition inspection report
obtained by the purchaser, as
estimated in that report by the
author of the report; and
(ii) the cost of making good all
defects identified in the building
condition inspection report
referred to in paragraph (a), as
estimated in that report by the
author of that report -
does not exceed 1% of the purchase
price.
(2) A contract for the sale of residential property
that includes a residential building may, by
agreement between the vendor and the
purchaser, include a building condition
inspection report obtained by the vendor in
respect of that residential building if the report -
(a) is addressed to the vendor; and
(b) includes an acknowledgement by the
building inspector that the report has
been obtained by the vendor for the
purposes of this section; and
25
Residential Property Transactions Act 2013
Act No. of
s. 14 Part 3 - Additional Purchaser's Rights in Relation to Contracts
(c) includes a statement that a person who
enters into a contract to purchase the
property may rely on the statements
contained in the report as to the condition
of the property as at date of the
inspection stated in the report; and
(d) states an opinion by the author of the
report as to the estimated cost of making
good all defects identified in that report.
(3) If a contract for the sale of residential property
includes a building condition inspection report
that does not comply with subsection (2), the
purchaser under the contract may, at any time
before the relevant date, rescind the contract by
giving written notice to the vendor.
(4) For the purposes of subsection (3), the -
relevant date is -
(a) if paragraph (b) does not apply,
the date of completion of the
contract; or
(b) if the vendor gives written notice
to the purchaser's legal
practitioner or conveyancer
setting out the details of a matter
in respect of which a building
condition inspection report
included in the contract did not
comply with subsection (2), the
earlier of the following dates:
26
Residential Property Transactions Act 2013
Act No. of
Part 3 - Additional Purchaser's Rights in Relation to Contracts s. 15
(i) the date that is 5 business
days after the date of the
giving of that notice;
(ii) the date of completion of
the contract.
(5) A notice under paragraph (b) of the
definition of relevant date in subsection (4) -
(a) cannot be given earlier than the first
business day after the date on which the
contract is made; and
(b) is of no effect unless the notice states that
it is a notice for the purposes of this
section.
(6) A purchaser under a contract for the sale of
residential property may exercise, in respect of a
building condition inspection report obtained by
the vendor and included in that contract, the
same rights and powers that the purchaser would
have had if the report had been obtained by the
purchaser.
(7) Nothing in subsection (6) affects the operation of
subsection (1).
(8) Nothing in this section requires a contract for the
sale of residential property to include a building
condition inspection report obtained by the
vendor.
27
Residential Property Transactions Act 2013
Act No. of
s. 15 Part 3 - Additional Purchaser's Rights in Relation to Contracts
15. Purchaser's right to apply for a building certificate
(1) This section applies to a contract for the sale of
residential property that includes a residential
building.
(2) The purchaser under a contract to which this
section applies has the right during the period
commencing on the date on which the contract is
made and ending at 5 p.m. on the fifth business
day after that date to request a building
certificate in relation to the residential property.
(3) A purchaser who exercises the right referred to
in subsection (2), as soon as practicable after the
exercise of that right, is to give written notice to
the vendor that the purchaser has done so.
(4) A vendor who receives a notice under
subsection (3) must allow an authorised person,
within the meaning of the Building Act 2000,
reasonable access to the residential building at
reasonable times so that the general manager of
the council for the municipal area where the
residential building is located may determine
whether or not to issue a building certificate in
relation to the residential building.
(5) A breach of the vendor's obligations under
subsection (4) is taken to be a breach of the
contract for the sale of the residential property
by the vendor and in respect of which the
purchaser may exercise the same rights the
purchaser would have had as if this section had
been included as part of the contract.
(6) If -
28
Residential Property Transactions Act 2013
Act No. of
Part 3 - Additional Purchaser's Rights in Relation to Contracts s. 15
(a) a purchaser exercises the right referred to
in subsection (2); and
(b) the general manager of the council for
the municipal area where the residential
property is located issues a building
certificate in respect of the residential
property -
the purchaser is to give the vendor written notice
to that effect as soon as practicable after the
receipt of the certificate.
(7) For the purposes of subsection (2), a purchaser
applies for a building certificate if an application
for the certificate is sent, during the period
referred to in that subsection, to the council for
the municipal area where the residential property
is located.
(8) Subject to subsections (9) and (10), a purchaser
who exercises the right in subsection (2) to apply
for a building certificate has the right to rescind
the contract by written notice to the vendor if the
general manager of the council for the municipal
area where the residential property is located
does not issue a building certificate before the
completion of the contract.
(9) The right to rescind the contract under
subsection (8) cannot be exercised -
(a) after the completion of the contract; or
(b) more than 4 business days after the
purchaser is notified that the general
manager has refused to issue a building
29
Residential Property Transactions Act 2013
Act No. of
s. 15 Part 3 - Additional Purchaser's Rights in Relation to Contracts
certificate in relation to the residential
property.
(10) The vendor may rescind the contract by written
notice to the purchaser if -
(a) by 5 p.m. on the twentieth business day
after the date on which the contract is
made the purchaser has not given a
notice to the vendor under subsection (6)
stating that the purchaser has received
the building certificate; and
(b) on or after the twentieth business day
after the date on which the contract is
made the vendor gives written notice to
the purchaser stating that the vendor
intends to rescind the contract under this
subsection if the purchaser does not
waive the purchaser's rights under this
section by written notice to the vendor;
and
(c) the purchaser did not waive by written
notice to the vendor the purchaser's
rights under this section by 5 p.m. on the
date 2 business days after the purchaser
received the vendor's notice under
paragraph (b).
(11) The right to rescind the contract in
subsection (10) -
(a) only applies to a contract in respect of
which the purchaser has exercised the
right referred to in subsection (2); and
30
Residential Property Transactions Act 2013
Act No. of
Part 3 - Additional Purchaser's Rights in Relation to Contracts s. 16
(b) cannot be exercised by the vendor to the
extent that any delay in the issuing of a
building certificate, or a notice refusing
to issue a building certificate, is
attributable to a breach of subsection (4)
by the vendor; and
(c) lapses on the completion of the contract.
(12) For the avoidance of doubt, nothing in this
section affects or limits a purchaser's rights
under section 119 of the Building Act 2000.
16. Purchaser's right to rescind in relation to legal
restrictions and unapproved works in relation to a
residential building
(1) This section applies to a contract for the sale of
residential property that -
(a) includes a residential building; or
(b) is not to be completed before the
completion, or construction, of a building
that is intended to be used as a dwelling
after the completion of the contract.
(2) The purchaser under a contract to which this
section applies may by written notice to the
vendor rescind the contract if -
(a) in the case of a contract that includes a
residential building in existence at the
date on which the contract is made -
(i) there is any legal restriction, at
the date on which the contract is
31
Residential Property Transactions Act 2013
Act No. of
s. 16 Part 3 - Additional Purchaser's Rights in Relation to Contracts
made, that hinders or prevents the
use of the residential property for
the purposes of a dwelling; or
(ii) there are any unapproved works,
at the date on which the contract
is made, on the residential
property; or
(b) in the case of a contract that is not to be
completed before the completion, or
construction, of a building that is
intended to be used as a dwelling after
the completion of the contract -
(i) there is any legal restriction, at
the date of completion of the
contract, that hinders or prevents
the use of the residential property
for the purposes of a dwelling; or
(ii) there are any unapproved works,
at the date of completion of the
contract, on the residential
property.
(3) The purchaser cannot exercise the right to
rescind in relation to unapproved works if the
unapproved works were carried out by or on
behalf of the purchaser.
(4) The purchaser cannot exercise the right to
rescind in respect of a particular legal restriction,
or particular unapproved works, as the case may
be, if the contract includes a provision in 12-
point bold type -
32
Residential Property Transactions Act 2013
Act No. of
Part 3 - Additional Purchaser's Rights in Relation to Contracts s. 16
(a) describing in reasonable detail the nature
and extent of the particular legal
restriction, or the particular unapproved
works, as the case may be; and
(b) stating that, for the purposes of this
section, the purchaser will not be entitled
to rescind the contract in respect of that
particular legal restriction or those
particular unapproved works; and
(c) stating that the purchaser should seek
independent legal advice from a legal
practitioner or conveyancer about the
restriction, or unapproved works, before
signing the contract.
(5) For the purposes of this section -
unapproved works means -
(a) building work or plumbing work
in relation to a residential
building for which no certificate
of completion has been issued as
required by law, and in respect of
which no building certificate has
been issued; or
(b) building work in relation to a
residential building for which no
building permit has been obtained
as required by law, and in respect
of which no building certificate
has been issued; or
33
Residential Property Transactions Act 2013
Act No. of
s. 17 Part 3 - Additional Purchaser's Rights in Relation to Contracts
(c) plumbing work in relation to a
residential building for which no
plumbing permit has been
obtained as required by law, and
in respect of which no building
certificate has been issued; or
(d) any structure on residential
property which required a permit
under a law relating to planning
at the time of its construction, and
in respect of which a council is
entitled to take any legal action.
(6) The right to rescind the contract in subsection (2)
lapses on the completion of the contract.
17. Purchaser's right to rescind for legal restrictions in
relation to vacant residential land
(1) This section applies to a contract for the sale of
residential property that does not -
(a) include a residential building; or
(b) require, before the completion of the
contract, the completion, or construction,
of a building that is intended to be used
as a dwelling after the completion of the
contract.
(2) The purchaser under a contract to which this
section applies may rescind the contract by
written notice to the vendor if at the date of the
completion there is any legal restriction that may
hinder or prevent the use of the residential
34
Residential Property Transactions Act 2013
Act No. of
Part 3 - Additional Purchaser's Rights in Relation to Contracts s. 18
property for the purposes of a residential
building allotment.
(3) The purchaser cannot exercise the right to
rescind in respect of a particular legal restriction
if the contract includes a provision in at least 12-
point bold type -
(a) describing in reasonable detail the nature
and extent of the particular legal
restriction; and
(b) stating that, for the purposes of this
section, the purchaser will not be entitled
to rescind the contract in respect of that
particular legal restriction; and
(c) stating that the purchaser should seek
independent advice from a legal
practitioner or conveyancer about the
restriction before signing the contract.
(4) The right to rescind the contract in subsection (2)
lapses on the completion of the contract.
18. Purchaser's right to rescind if dwelling is damaged
or destroyed
(1) This section applies to a contract for the sale of
residential property that includes a residential
building.
(2) The purchaser under a contract to which this
section applies may rescind the contract by
written notice to the vendor if, through no fault
of the purchaser, the residential building is made
35
Residential Property Transactions Act 2013
Act No. of
s. 18 Part 3 - Additional Purchaser's Rights in Relation to Contracts
substantially uninhabitable as a result of damage
or destruction occurring after the date on which
the contract is made and before -
(a) if paragraph (b) does not apply, the
completion of the contract; or
(b) if the purchaser was not a tenant or
occupier of the residential property
before the date on which the contract is
made and takes possession of the
residential property before the
completion of the contract, the date the
purchaser takes possession of the
residential property.
(3) The right to rescind the contract in
subsection (2) -
(a) lapses on the completion of the contract;
and
(b) cannot be exercised later than 10
business days after the vendor gives
written notice to the purchaser informing
the purchaser of the damage or
destruction.
(4) Subject to subsection (5), nothing in this section
changes the law relating to the passing of risk at
the time of entering into a contract to which this
section applies.
(5) If a purchaser rescinds a contract for the sale of
residential property in accordance with this
section, the risk in relation to the residential
36
Residential Property Transactions Act 2013
Act No. of
Part 3 - Additional Purchaser's Rights in Relation to Contracts s. 18
property is taken never to have passed from the
vendor to the purchaser.
37
Residential Property Transactions Act 2013
Act No. of
s. 19 Part 4 - Prospective Bidder's Rights before Public Auction
PART 4 - PROSPECTIVE BIDDER'S RIGHTS BEFORE
PUBLIC AUCTION
19. Prospective bidder's right to arrange building
inspection
(1) In this section -
pre-auction period means the period
commencing on the date that an auction
is publicly advertised and ending on -
(a) the day before the date of the
auction; or
(b) if the auction is cancelled, the
date the auction is cancelled;
prospective vendor means, in relation to
residential property that is advertised for
sale by public auction, the person who
will become the vendor of the property if
it is sold at that auction.
(2) A person who is a prospective bidder at a public
auction for residential property that includes a
residential building may, during the pre-auction
period, give written notice to the property agent
for the prospective vendor stating that -
(a) the person is a prospective bidder at the
auction; and
(b) the person requires access to the property
for the purpose of enabling a building
inspector to provide to the person a
38
Residential Property Transactions Act 2013
Act No. of
Part 4 - Prospective Bidder's Rights before Public Auction s. 19
building condition inspection report in
relation to the residential building.
(3) A property agent who receives a notice under
subsection (2) must give a copy of the notice to
the prospective vendor as soon as practicable.
Penalty: Fine not exceeding 20 penalty units.
(4) A prospective vendor who receives a copy of a
notice under subsection (3) is to allow
reasonable access to the residential property at
reasonable times during the pre-auction period to
enable a building inspector to inspect the
residential building for the purpose of providing
a building condition inspection report to the
prospective bidder.
(5) A prospective vendor who fails without
reasonable excuse to comply with subsection (4)
is guilty of an offence.
Penalty: Fine not exceeding 20 penalty units.
39
Residential Property Transactions Act 2013
Act No. of
s. 20 Part 5 - Cooling-off Period
PART 5 - COOLING-OFF PERIOD
20. Cooling-off period
(1) Subject to subsections (2) and (3), there is a
cooling-off period for every contract for the sale
of residential property during which the
purchaser may exercise the right to rescind the
contract under section 22.
(2) There is no cooling-off period for a contract for
the sale of residential property if -
(a) the contract is entered into pursuant to
the acceptance of a bid made at a public
auction; or
(b) the contract is made not later than 5 p.m.
on the fifth business day after the date
the property was offered for sale at a
public auction but was passed in; or
(c) the vendor and purchaser have previously
entered into a contract for the sale of the
same residential property on substantially
the same terms and conditions.
(3) There is no cooling-off period for a contract for
the sale of residential property that was publicly
advertised for sale by public auction if the
contract is made during the pre-auction period.
(4) There is no cooling-off period in respect of a
contract for the sale of residential property if -
(a) at the time of entering into that contract
the purchaser is a purchaser under a pre-
40
Residential Property Transactions Act 2013
Act No. of
Part 5 - Cooling-off Period s. 21
existing contract in respect of another
residential property; and
(b) the vendor in relation to the first-
mentioned contract is not a party to the
pre-existing contract; and
(c) the pre-existing contract has a cooling-
off period that has not ended at that time;
and
(d) the residential property that is the subject
of the pre-existing contract is within a
radius of 75 kilometres of the residential
property which is the subject of the first-
mentioned contract.
(5) A purchaser who enters into a contract for the
sale of residential property that does not have a
cooling-off period by virtue of subsection (4)
must disclose to the vendor under that contract,
or to the property agent for the vendor under that
contract, that the contract does not have a
cooling-off period.
(6) A person who suffers any loss as a result of a
purchaser failing to comply with subsection (5)
has a right of action against that purchaser to
recover that loss.
21. Commencement and ending of cooling-off period
(1) The cooling-off period commences on the date
on which the contract is made.
41
Residential Property Transactions Act 2013
Act No. of
s. 21 Part 5 - Cooling-off Period
(2) Subject to subsections (3) and (4), the cooling-
off period ends -
(a) if the contract complies with section 23,
at 5 p.m. on the fifth business day after
the day on which the cooling-off period
commenced or at the time when the
contract is completed, whichever is the
earlier; or
(b) if the contract does not comply with
section 23 -
(i) if subparagraph (ii) does not
apply, at the time when the
contract is completed; or
(ii) if the vendor gives written notice
to the purchaser, or the
purchaser's legal practitioner or
conveyancer, setting out the
details of each matter in respect
of which the contract did not
comply with section 23, at 5 p.m.
on the fifth business day after the
giving of that notice or at the time
when the contract is completed,
whichever is the earlier.
(3) A notice under subsection (2)(b)(ii) -
(a) cannot be given earlier than the first
business day after the date on which the
contract is made; and
42
Residential Property Transactions Act 2013
Act No. of
Part 5 - Cooling-off Period s. 21
(b) is of no effect unless the notice states that
it is a notice for the purposes of this
section.
(4) The cooling-off period may be extended by -
(a) a provision in the contract; or
(b) the vendor giving written notice to the
purchaser.
(5) If -
(a) the vendor's property agent arranges for
the purchaser to sign a contract for sale
of residential property; and
(b) the purchaser does not actually receive a
copy of the contract for sale by 5 p.m. on
the next business day after the date on
which the contract is made -
the cooling-off period is to be extended until 5
p.m. on the fourth business day after the date on
which the purchaser actually receives a copy of
the contract for sale from the vendor's property
agent.
(6) For the purposes of subsection (5), a copy of the
contract for sale is taken to be received by the
purchaser as follows:
(a) in the case where a copy of the contract
is hand-delivered to the purchaser, at the
time of delivery;
(b) in the case where a copy of the contract
is sent by fax to the purchaser, before 5
43
Residential Property Transactions Act 2013
Act No. of
s. 21 Part 5 - Cooling-off Period
p.m. on a business day, on completion of
the transmission if there is no evidence
of incomplete transmission;
(c) in the case where a copy of the contract
is sent by fax to the purchaser, after 5
p.m. on a business day, at 9 a.m. on the
next business day after it is sent if there
is no evidence of incomplete
transmission;
(d) in the case where a copy of the contract
is sent by email to the purchaser, when
receipt of the email is acknowledged;
(e) in the case where a copy of the contract
is sent by post to the purchaser, at the
time when the envelope enclosing the
contract would be delivered in the
ordinary course of post.
(7) For the purposes of this section, a copy of the
contract means -
(a) an original of the contract signed by all
parties that shows the date on which the
contract was made; or
(b) an original counterpart of the contract
signed by the vendor that shows the date
on which the contract was made; or
(c) a copy of the original of the contract
referred to in paragraph (a) or a copy of
the original counterpart of the contract
referred to in paragraph (b).
44
Residential Property Transactions Act 2013
Act No. of
Part 5 - Cooling-off Period s. 22
22. Right to rescind contract during cooling-off period
The purchaser under a contract for the sale of
residential property for which there is a cooling-
off period may rescind the contract at any time
during the cooling-off period by written notice to
the vendor.
23. Contract to contain statement regarding cooling-off
period
(1) A contract for the sale of residential property
must include an information statement as to
whether the contract is subject to a cooling-off
period.
(2) If the contract is subject to a cooling-off period,
the information statement is to be in accordance
with Form 3 in Schedule 1.
(3) If the contract is not subject to a cooling-off
period, the information statement is to be in
accordance with Form 4 in Schedule 1.
(4) The information statement -
(a) must be printed in at least 12-point type;
and
(b) must be set out on a separate page of the
contract that is signed and dated by the
purchaser.
(5) For the purposes of subsection (4)(b), the
separate page of the contract may include the
warning notice required by section 8.
45
Residential Property Transactions Act 2013
Act No. of
s. 24 Part 6 - Miscellaneous Provisions
PART 6 - MISCELLANEOUS PROVISIONS
24. Property agent to provide copy of contract
(1) If the vendor's property agent arranges for the
purchaser to sign a contract for the sale of
residential property, the vendor's property agent
must give a copy of the contract for sale to the
purchaser by no later than 5 p.m. on the second
business day after the date on which the contract
is made.
(2) If -
(a) the vendor's property agent arranges for
the purchaser to sign a contract for the
sale of residential property; and
(b) on or before the date on which the
contract is made, the purchaser told the
property agent that a legal practitioner or
conveyancer is to act for the purchaser in
relation to the contract -
the vendor's agent must, in addition to providing
the copy of the contract under subsection (1) to
the purchaser, give a copy of the contract to that
legal practitioner or conveyancer by no later than
5 p.m. on the second business day after the date
on which the contract is made.
(3) For the purposes of this section, a copy of the
contract means -
46
Residential Property Transactions Act 2013
Act No. of
Part 6 - Miscellaneous Provisions s. 25
(a) an original of the contract signed by all
parties that shows the date on which the
contract was made; or
(b) an original counterpart of the contract
signed by the vendor that shows the date
on which the contract was made; or
(c) a copy of the original of the contract
referred to in paragraph (a) or a copy of
the original counterpart of the contract
referred to in paragraph (b).
25. Documents included as part of contract
(1) A document is included as part of a contract for
the sale of residential property if, and only if -
(a) the document is physically annexed,
attached or stapled to the contract; or
(b) in the case where a contract is sent, by
electronic means, to a party for signing
by that party, the contract when sent is
accompanied by a copy of the document;
or
(c) the document is taken to be included as
part of the contract in accordance with
subsection (2).
(2) A document is taken to be included as part of a
contract for the sale of residential property if the
document was given by the vendor, or by the
vendor's property agent, to the purchaser before
the date on which the contract is made and -
47
Residential Property Transactions Act 2013
Act No. of
s. 26 Part 6 - Miscellaneous Provisions
(a) before entering into the contract, the
purchaser signed an acknowledgement of
receipt for that document; and
(b) the receipt describes the document in
sufficient detail to identify the document;
and
(c) a copy of the receipt is -
(i) physically annexed, attached or
stapled to the contract; or
(ii) in the case where a contract is
sent, by electronic means, to a
party for signing by that party,
the contract when sent is
accompanied by a copy of the
receipt.
26. Dating of contracts
(1) A contract for the sale of residential property
must not be dated earlier than the date on which
the contract was made.
(2) For the purposes of this Act, if a contract for the
sale of residential property bears a date which is
before the date on which the contract was made,
the first-mentioned date is taken to be the date
on which the contract was made.
27. Contracting out, &c.
(1) Subject to subsection (2), a provision of a
contract for the sale of residential property, or of
48
Residential Property Transactions Act 2013
Act No. of
Part 6 - Miscellaneous Provisions s. 27
any other agreement, understanding or
arrangement, is void to the extent that it has the
effect of excluding, changing or restricting the
operation of this Act.
(2) A provision in a contract for the sale of
residential property, or in any agreement made
after the contract is made, may exclude, change
or restrict the operation of all or any part of this
Act, as between the parties to the contract, if -
(a) the purchaser received advice from a
legal practitioner or conveyancer as to
the consequences of that provision before
entering into the contract or agreement;
and
(b) the legal practitioner or conveyancer is
not acting for the vendor; and
(c) the legal practitioner or conveyancer
gives a written certificate to the
purchaser which complies with
subsection (3) before the purchaser enters
into the contract or agreement, as the
case may be; and
(d) a copy of that certificate is included in
the contract or agreement.
(3) A certificate for the purposes of subsection (2)
must -
(a) state that the certificate is given for the
purposes of this section; and
49
Residential Property Transactions Act 2013
Act No. of
s. 28 Part 6 - Miscellaneous Provisions
(b) contain a statement setting out the
provisions of this Act to be excluded,
changed or restricted by the contract or
agreement; and
(c) set out the names of the parties to the
contract and details of the residential
property the subject of the contract; and
(d) contain a statement to the effect that the
legal practitioner or conveyancer has
explained to the purchaser the nature and
effect of the certificate.
28. Waiver
The waiver by a purchaser of any rights under
this Act is of no effect unless the waiver is given
in writing by a legal practitioner or conveyancer,
acting on behalf of the purchaser, who does not
act for the vendor.
29. Purchaser's other rights not affected
This Act does not affect any right or remedy
available to a purchaser otherwise than under
this Act.
30. Notices
(1) Any notice or document for the purposes of this
Act may -
50
Residential Property Transactions Act 2013
Act No. of
Part 6 - Miscellaneous Provisions s. 30
(a) be given on behalf of a person by that
person's legal practitioner or
conveyancer; and
(b) be served on or given to a person's legal
practitioner or conveyancer.
(2) If 2 or more persons comprise the purchaser
under a contract for the sale of residential
property, a notice or document for the purposes
of this Act -
(a) is taken to be given by the purchaser if
the notice or document is given by any of
those persons; and
(b) is taken to be given to the purchaser if
the notice or document is given to any of
those persons.
(3) If 2 or more persons comprise the vendor under
a contract for the sale of residential property, a
notice or document for the purposes of this Act -
(a) is taken to be given by the vendor if the
notice or document is given by any of
those persons; and
(b) is taken to be given to the vendor if the
notice or document is given to any of
those persons.
(4) For the purposes of this Act, a notice or
document is effectively given to a person if -
(a) in the case of a natural person, it is -
(i) given to the person; or
51
Residential Property Transactions Act 2013
Act No. of
s. 30 Part 6 - Miscellaneous Provisions
(ii) left at, or sent by post to, the
person's postal or residential
address or place or address of
business employment last known
to the server of the notice or
document; or
(iii) faxed to the person's fax number;
or
(iv) emailed to the person's email
address; or
(b) in the case of the Crown -
(i) it is given in accordance with the
contract for the sale of the
residential property; or
(ii) if the contract does not include an
address for notices to be given to
the Crown, it is -
(A) left at, or sent by post to,
the office of the Crown
Solicitor; or
(B) faxed to the office of the
Crown Solicitor; or
(C) emailed to the email
address for the Crown
Solicitor; or
(c) in the case of any other person, it is -
(i) left at, or sent by post to, the
person's principal or registered
52
Residential Property Transactions Act 2013
Act No. of
Part 6 - Miscellaneous Provisions s. 31
office or principal place of
business; or
(ii) addressed to the person and
delivered to the facilities of a
document exchange of which the
person is a member; or
(iii) faxed to the person's fax number;
or
(iv) emailed to the person's email
address.
(5) Nothing in subsection (4) -
(a) affects the operation of any other law that
authorises the service of a notice or
document otherwise than as provided by
that subsection; or
(b) affects the power of a court or person
acting judicially to authorise service of a
notice or document otherwise than as
provided in that subsection.
31. Consequences of rescission
If a contract for the sale of residential property is
rescinded pursuant to a right to rescind the
contract given by this Act -
(a) the contract is taken to be rescinded from
the time it was made; and
(b) the deposit must be refunded to the
purchaser; and
53
Residential Property Transactions Act 2013
Act No. of
s. 32 Part 6 - Miscellaneous Provisions
(c) the purchaser and vendor are not liable to
pay to each other any other amounts for
damages, costs or expenses in relation to
the contract or its rescission; and
(d) a property agent is not entitled to any
commission in relation to the contract.
32. Conveyancing and Law of Property Act 1884 not
affected
Nothing in this Act affects the operation of the
Conveyancing and Law of Property Act 1884.
33. Regulations
(1) The Governor may make regulations for the
purpose of this Act.
(2) The regulations may provide that this Act does
not apply to the following:
(a) any contract of a prescribed class;
(b) any residential property of a prescribed
class.
(3) Regulations may be made so as to apply
differently according to any matter, condition,
limitation, restriction, exception or circumstance
specified in the regulations.
(4) The regulations may authorise any matter to be
from time to time determined, applied or
regulated by any person or body specified in the
regulations.
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Part 6 - Miscellaneous Provisions s. 34
(5) The regulations may -
(a) provide that a contravention of, or a
failure to comply with, any of the
regulations is an offence; and
(b) in respect of such an offence, provide for
the imposition of a fine not exceeding 50
penalty units and, in the case of a
continuing offence, a further fine not
exceeding 10 penalty units for each day
during which the offence continues.
34. Administration of Act
Until provision is made in relation to this Act by
order under section 4 of the Administrative
Arrangements Act 1990 -
(a) the administration of this Act is assigned
to the Minister for Corrections and
Consumer Protection; and
(b) the department responsible to that
Minister in relation to the administration
of this Act is the Department of Justice.
35. Consequential amendments
The legislation specified in Schedule 2 is
amended as specified in that Schedule.
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Act No. of
sch. 1
SCHEDULE 1 - FORMS
Form 1 - Purchaser's Warning Notice
Section 8(2)
56
Residential Property Transactions Act 2013
Act No. of
sch. 1
Form 2 - Purchaser's Warning Notice
Section 8(3)
57
Residential Property Transactions Act 2013
Act No. of
sch. 1
Form 3 - Cooling-off Period Information Statement
Section 23(2)
58
Residential Property Transactions Act 2013
Act No. of
sch. 1
Form 4 - Cooling-off Period Information Statement
Section 23(3)
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Act No. of
sch. 2
SCHEDULE 2 - CONSEQUENTIAL AMENDMENTS
Section 35
Property Agents and Land Transactions Act 2005
1. Section 18 is amended by omitting subsection
(8) and substituting the following subsection:
(8) Insofar as a written appointment
mentioned in subsection (1) is an agency
agreement, on and after the
commencement of the Residential
Property Transactions Act 2013 it is not
valid for a period exceeding 90 days
commencing on the date of the agency
agreement.
2. Part 10 is repealed.
60 Government Printer, Tasmania